The main objective of this Doing Business with Mongolia Guide is to provide you with basic knowledge about Mongolia; an overview of its economy, business culture, potential opportunities and to identify the main issues associated with initial research, market entry, risk management and cultural and language issues. We do not pretend to provide all the answers in the guide, but novice exporters in particular will find it a useful starting point. Further assistance is available from the Department for International Trade (DIT) team in Mongolia. Full contact details are available in the guide.

To help your business succeed in Mongolia we have carefully selected a variety of essential service providers as ‘Market Experts’; 4u Mongolian Company Formation LLC, Cashmere Holdings Mongolia, IARUDI Financial Consultancy TMZ LLC, Mongolian Business Database/B2B Mongolia, The English School of Mongolia, Trade and Development Bank of Mongolia (TDB) LLC.

The guide has been produced by International Market Advisor, in partnership with the Institute of Export & International Trade, and with support from the British Embassy Ulaanbaatar and Mongolian British Chamber of Commerce (MBCC).

Five things to know about exporting to Mongolia:

• Since 1991, Mongolia has transformed into a vibrant parliamentary democracy, with rule of law and a free, lively media, three times the level of GDP per capita and vast agricultural and mineral resources including major deposits of coal, gold, copper, iron ore and uranium.

• The Mongolian Government is keen to develop its industry, and there are opportunities for UK companies in many areas, such as the mining and oil and gas industries, the supply of equipment and expertise, financing, and other professional, legal and consulting services.

• Mongolia has a younger generation with an increasing number of English language speakers who are open to new products, services, and ideas.

• China provides a ready market for much of Mongolia’s mineral exports as there are no duties, and with no taxes on exports, Mongolia can serve as a gateway to nearby markets provided you have a Mongolian partner or are part of a joint venture.

• Mongolia's GDP growth rate increased from 1.2% in 2016 to 5.3% in 2017 and 6.9% in 2018 and the outlook remains positive in 2019, with the IMF having now raised its projections for Mongolian economic growth for 2019 from 1.5% to 1.8%. Supported by robust growth in private consumption as well as private investment in mining and manufacturing. The country is expected to be one of the world’s fastest-growing economies in the next few decades.