Australia Mongolia Business Council (AusMonBC) is an organization with a purpose of empowering its’ members to discover, promote and enhance business opportunities in both Australia and Mongolia. Australia and Mongolia has had 50 years of diplomatic relations.

About Australia

Australia is a country with a population of 25,750,198 (September 2021). It is surrounded by Southern, Pacific and Indian oceans.

Australia’s Gross Domestic Product (GDP) is $A 1.98 trillion (June 2021), and it is the 13th largest national economy in the world by GDP in current prices. Australia’s GDP per capita is $A 62,728 (2021).

Australia’s key industries by contribution to GDP are:

62.7%

Services

7.4%

Construction

5.8%

Mining

5.8%

Manufacturing

3.1%

Tourism (as of 2019)

2.8%

Agriculture

About Mongolia

Mongolia is a country with 3,424,905 million people (as of April 14, 2022), who are open, liberal and well- educated. 60% of Mongolia’s population speak English. The time difference between Mongolia and Australia is 2 or 3 hours depending on daylight saving arrangements.

Mongolia has a stable democratic political system with a focus on improvement in terms of business regulations. It has become one of the least regulated countries in the world. To date, Mongolia has established foreign investment and promotion agreements with 43 countries and has established Double Taxation Agreements with 26 countries.

Mongolia has close proximity to the ever-growing Chinese market. It has direct borders with Russia and China, and it is within a few hours flight from Hong Kong, Korea and Japan.

Mongolia’s key exports are mineral products such as copper, gold, molybdenum, uranium, coal and iron- ore. Mongolia also exports oil. Mongolia’s renewable energy resources are plentiful and business investments in this sector are very promising.

The country welcomes foreign investment as highlighted by the USD 13+ billion Rio Tinto investment in the world’s 3rd largest copper and gold mine.

Mongolia is well-known for its’ High quality, Designer Cashmere.

Mongolian performers and artists are becoming world-renowned and are touring around the world with their “unique performances and art-shows”. Mongolia has 4 different seasons, and its’ most attractive tourism and cultural events are Naadam Festival in July, Eagle Festival, White Moon Days in February, Gobi Desert – Sand Dunes and Dinosaur Land, and Huvsgul Lake - one of the largest and deepest fresh water lakes in the world.

The mining industry in Australia and Mongolia shares common work practices including a strong emphasis on workplace safety. Australian food manufacturers have a great opportunity to establish production facilities in Mongolia to service ever-growing Chinese food market.

THEREFORE, there are great opportunities for us to GROW and PROPSPER TOGETHER.