PH, Mongolia deepen bilateral ties in landmark diplomatic talks www.pna.gov.ph

MANILA – The Philippines and Mongolia strengthened their economic and strategic partnership in a historic visit by Mongolian Foreign Minister Batmunkh Battsetseg on Monday, after over four decades.
In his speech on Monday, Foreign Affairs Secretary Enrique Manalo described the visit as a milestone in the Philippines-Mongolia relationship, noting the productive bilateral meeting with Battsetseg, that led to the issuance of the two nations’ first bilateral statement since 2000.
Battsetseg also paid a courtesy call on President Ferdinand R. Marcos Jr.
“The Philippines and Mongolia are two of the fastest-growing economies not only in Asia but in the world. The future of our bilateral partnership finds strength in our two resource-rich economies,” Manalo said.
“As middle-income countries, we share an interest in pursuing cooperation to sustain our promising development trajectories,” he added.
In a joint statement, Manalo and Battsetseg reaffirmed the enduring bonds of friendship between the Philippines and Mongolia, emphasizing that bilateral ties are founded on a shared commitment to peaceful coexistence and mutually beneficial cooperation. 
The two officials also highlighted common values such as freedom, democracy and human rights, as they stressed the importance of an open, inclusive and rules-based international order grounded in international law, equity and justice. 
The two sides agreed to advance cooperation in trade and investment, food security, English language training and regional security.
“The Secretary and the Minister reaffirmed their shared commitment to strengthening trade and investment ties by fostering sustainable economic growth and private sector collaboration, while advancing comprehensive trade cooperation, expanding trade volume, and promoting mutually beneficial market access,” the joint statement read.
Both nations expressed satisfaction with the progress on a memorandum of understanding on agricultural cooperation that aligns with the priorities of both President Marcos and Mongolian President Ukhnaa Khurelsukh, who have each declared food security as a national agenda.
Meanwhile, recognizing Mongolia’s designation of English as its second official language, the Philippines launched a pilot program for Mongolian civil servants and rural officials to study English in the Philippines, to be organized by the Technical Cooperation Council of the Philippines and Technical Education and Skills Development Authority.
Labor cooperation also featured prominently in the discussions, as Manalo thanked the Mongolian government for ensuring the protection of the rights and welfare of around 500 Filipino workers in Mongolia.
“I discussed with her our desire to forge cooperative frameworks that will better protect Filipinos in Mongolia,” he said.
The two countries identified potential cooperation in tourism, science and innovation, disaster risk reduction, and defense.
On regional security, they reaffirmed their commitment to international law, particularly the 1982 United Nations Convention on the Law of the Sea (UNCLOS), and underscored the importance of the 1982 Manila Declaration on the Peaceful Settlement of Disputes.
The Philippines and Mongolia noted their shared vision of a world free of nuclear weapons as they advance regional security and global disarmament goals. 
“The two sides decided to continue cooperating to promote nuclear weapons-free zones in the context of the review process of the Treaty on the Non-Proliferation of Nuclear Weapons,” the joint statement read. 
Mongolia expressed strong interest in becoming a Sectoral Dialogue Partner of the Association of Southeast Asian Nations, a move supported by the Philippines. In turn, Mongolia backed the Philippines’ bid for a non-permanent seat at the UN Security Council for 2027–2028.
Both sides emphasized the importance of collective action to address climate change, focusing on building resilience and prioritizing disaster risk reduction, while the Philippines expressed its full support for Mongolia’s hosting of the 17th Session of the Conference of the Parties of the UN Convention to Combat Desertification, to be held in Ulaanbaatar in 2026. (PNA)

Fifth Mongolian woman conquers Mount Everest www.qazinform.com

The Mongolian National Climbing Federation announced that International Master of Sports in Mountaineering Ariunzul Chuluunbaatar has reached the summit of Mount Everest, which rises 8,848 metres above sea level, MONTSAME reports. 
This achievement makes her the 17th Mongolian climber, and fifth Mongolian woman, to stand atop Everest. She is now descending toward Camp IV.
Honored Athlete B. Gangaamaa was the first Mongolian woman to scale Everest successfully. Since the first Mongolian set foot on the “Roof of the World” in 2005, a total of 17 Mongolian climbers have reached Everest’s summit over the past 20 years.
Noteworthy, Kazakh climbers conquered Mount Kilimanjaro, the highest peak in Africa, rising 5,895 meters.

Draft Law on Ratifying the Loan Agreement between Mongolia and IBRD Submitted to Speaker of Parliament www.montsame.mn

On May 16, 2025, Minister of Finance of Mongolia Javkhlan Bold submitted the draft Law on Ratifying the Loan Agreement between Mongolia and the International Bank for Reconstruction and Development to Chairman of the State Great Khural Amarbayasgalan Dashzegve.
If the draft Law is adopted, funding from the Loan Agreement will be channeled to the “Energy-3 Project,” which aims at upgrading the Baganuur–Choir 110 kV overhead transmission line to a 220 kV double-circuit line and expanding the Baganuur and Choir substations.
Finance Minister Javkhlan Bold highlighted that the Project is vital for meeting the rapidly growing demand for reliable, stable electricity.

Mongolian banking sector's net foreign assets decline 49.9 pct in April www.xinhuanet.com

The Mongolian banking sector's net foreign assets declined by 49.9 percent year-on-year to reach 4.9 trillion Mongolian tugriks (1.37 billion U.S. dollars), local media reported on Monday, citing data from the National Statistics Office (NSO).
During the period, the net domestic assets of Mongolia's banks reached 36.6 trillion tugriks (10.24 billion dollars), which represents an increase of 29.1 percent compared to the same period of 2024.
Meanwhile, the cumulative savings within Mongolian commercial banks demonstrated a robust performance, reaching a total volume of 21.9 trillion tugriks (6.12 billion dollars) by the end of April 2025.
It is noted that the dollar savings experienced a substantial uptick, surging by 20.1 percent, while Mongolian tugrik savings exhibited a more modest increase of 17.5 percent.
Currently, there are about 1,500 branches of 11 commercial banks operating in Mongolia.

Bank of Mongolia Ends 5-Year Losses with 2024 Profit www.insidemongolia.mn

Mongolia launches 5G Nationwide www.insidemongolia.com

Mongolia has officially launched its 5G network, marking a major step forward in the country’s digital transformation. Licenses for 5G deployment have been granted to the 5 major telecom operators, Unitel, Mobicom, Skytel, GMobile, and ONDO.
🚶 Unitel Leads the Way
Mongolians first experienced 5G in 2022 when Unitel introduced the country’s very first 5G pilot site in Ulaanbaatar. A year later, the company expanded its efforts by rolling out pilot networks across all 21 provincial centers, laying the groundwork for today’s full-scale nationwide launch. Today, Unitel remains one of the country’s most extensive network operators, with an average of 79% of the population across the 21 provinces using its services in some form.
📃 A Vision for the Future: As the leading player in Mongolia’s 5G expansion, the CEO of Unitel Group said, “This launch marks the beginning of a new business ecosystem. 5G isn’t just about speed. It offers low-latency and high-capacity connectivity that opens new opportunities in manufacturing, logistics, healthcare, and education. It enables innovation, reduces costs, and supports broader economic growth.”
 ✅ Target for 2027
With this rollout, Mongolians now join over 2 billion people worldwide who have access to 5G services. As the technology becomes a key driver of innovation, Mongolia aims to achieve 5G coverage for 70% of its population by 2027.
🤲 5G technology promises dramatically faster speeds, lower latency, and greater reliability compared to previous generations. It is expected to revolutionize sectors such as healthcare, education, logistics, and manufacturing by enabling advanced technologies like artificial intelligence, automation, the Internet of Things (IoT), and remote operations.
Overall... Although Mongolia may be a latecomer to 5G compared to more developed nations, the opportunities and advancements following the rollout of this next-generation network promise significant progress and transformation ahead. With this milestone, Mongolia positions itself not just as a technology adopter but as a future-ready, connected nation prepared to harness the full potential of the digital age.

Mongolian Mountaineers Battogtokh Altangerel and Batkhishig Baldorj Triumphantly Summit Mount Everest www.montsame.mn

Mongolian mountaineers, International Masters of Sport Battogtokh Altangerel and Batkhishig Baldorj, began their ascent of Mount Everest, which is regarded as the highest point on Earth at 8,848 meters above sea level, last week and successfully reached the summit on May 18, 2025.
With this achievement, Battogtokh and Batkhishig became the 15th and 16th Mongolians to summit Everest’s peak. The duo climbed from the Nepalese side, with their expedition lasting about half a month, and the decisive summit push was made last week. A Mongolian mountaineer first set foot on Everest twenty years ago, and since 2022, Mongolian climbers have successfully reached the summit every year.
Meanwhile, International Master of Sport Ariunzul Chuluunbaatar is currently on Everest and is scheduled to make her decisive summit attempt tonight, May 19, 2025.

Mongolian FM to visit PH for bilateral meeting on Monday www.mb.com.ph

Mongolian Foreign Minister Battsetseg Batmunkh will be in the Philippines from May 19 to 20 for an official visit, the Department of Foreign Affairs (DFA) said.
Foreign Minister Battsetseg Batmunkh of Mongolia (Photo from Ministry of Foreign Affairs of Mongolia)
In a statement on Sunday, May 18, the DFA shared that Foreign Affairs Secretary Enrique Manalo and Battsetseg will hold a bilateral meeting to assess Philippines-Mongolia relations “and to chart ways forward to further enhance the two countries’ diplomatic relations, which have entered their sixth decade.”
Aside from bilateral ties, the two officials are also expected to “discuss strategic issues of mutual concern.”
Also part of Battsetseg’s itinerary are the courtesy calls to President Marcos and Senate President Francis Escudero.
An announcement about the foreign minister’s visit to Manila was also posted on the X (formerly Twitter) account of Mongolia’s Ministry of Foreign Affairs (MFA).
In 2023, the two nations commemorated the golden anniversary of the establishment of their bilateral relations.
Battsetseg’s visit was made possible by an invitation from Manalo, who visited Mongolia’s capital city of Ulaanbaatar last August 2024.
Similar to how Manalo was the first foreign secretary from the Philippines to travel to Mongolia in an official capacity, Battsetseg’s visit this week will also mark the first official visit of a Mongolian foreign minister to the Philippines since 1984.
In October 2024, Mongolian Deputy Prime Minister Amarsaikhan Sainbuyan visited the Philippines, recommending available facilities so Philippine companies can penetrate into the Central Asian market.
Potential areas for collaboration include investments promotion, agriculture, minerals, infrastructure development, and renewable energy, among others.

Mongolia's GDP up 2.4 pct in Q1 www.xinhuanet.com

Mongolia's gross domestic product (GDP) grew 2.4 percent year on year in the first quarter of 2025, official data released by the country's National Statistics Office (NSO) showed Saturday.
The Asian country's GDP totaled 19 trillion Mongolian tugriks (5.3 billion U.S. dollars) in the January-March period, and the growth was mainly attributed to good performance in the agricultural, services and mining sectors, the NSO said.
The landlocked country's economy grew 4.9 percent in 2024, according to the statistical agency.
Meanwhile, the Asian Development Bank (ADB) has predicted that Mongolia's economy would grow by 6.6 percent in 2025 and 5.9 percent in 2026.
According to the ADB, economic growth in Mongolia will be mainly driven by increased mining output and services and supported by robust domestic demand, infrastructure investment, and a gradual recovery in agriculture

EBRD and EU step up support for MSMEs in Central Asia and Mongolia www.ebrd.com

The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are boosting access to finance for micro, small and medium-sized enterprises (MSMEs) in Central Asia and Mongolia.
An additional €25 million in EU guarantees will be made available to local partner financial institutions for on-lending to this business segment. This marks an expansion of the existing Growth4All guarantees to a region where MSMEs form the backbone of the economy but often struggle to obtain finance to grow their business. The comprehensive package is expected to support the supply and demand of MSME financing by reducing associated risks and encouraging financial intermediaries to direct new lending to businesses that need it the most. It is expected to benefit around 3,500 businesses across the Kyrgyz Republic, Kazakhstan, Mongolia, Tajikistan, Turkmenistan and Uzbekistan
The EU is providing the guarantees through its European Fund for Sustainable Development Plus (EFSD+), which supports financing and investment operations in partner countries outside Europe, in line with the EU’s Global Gateway investment strategy.
EBRD President Odile Renaud-Basso said: “We are very proud to support micro, small and medium-sized enterprises through this guarantee, which is now also available in Central Asia and Mongolia. This is yet another strong example of how our cooperation with the European Union as our key partner responds to the everyday needs of businesses in the region, while at the same time underlining our determination to support strong, resilient and inclusive businesses.
European Commissioner for Economy and Productivity; Implementation and Simplification Valdis Dombrovskis said: “This agreement will see the EU partner with the EBRD to provide an additional €25 million in guarantees under the Growth4All initiative, expanding access to finance for micro, small, and medium-sized enterprises in Central Asia and Mongolia. As the backbone of these countries' economies, facilitating their access to finance will help create new jobs and opportunities, driving inclusive and resilient economic growth. This partnership demonstrates the EU's commitment to building and deepening mutually beneficial relationships worldwide, aligning with the EU's Global Gateway investment strategy.”