A deal to sell 200 tons of goat meat was struck between Mongolia and Vietnam during the 16th meeting of the joint committee between the governments of Mongolia and Vietnam organized in Ulaanbaatar on August 8.
Minister of Food and Agriculture and his Vietnamese counterpart Nguyen Xuan Cuong chaired the meeting, where the committee discussed ways to increase agriculture, health, education, and overall trade cooperation between the two countries.
Since 2010, when trade volume was only 10 million USD, the trade between the two countries has drastically increased. As of 2016, the volume of trade between Mongolia and Vietnam reached 43 million USD, with imports from Vietnam accounting for 40.1 million USD and Mongolian exports accounting for 2.9 million USD.
The two sides reached a consensus to target a trade volume of 70 million USD by 2020. Government officials from both governments believe that the export of animal products such as 200 tons of goat meat will be a big contributor to future trade growth. During this year’s committee meeting, the two sides came to an agreement on the health standards of the exports. Initially, from 2017 to 2018, Mongolia will ship 200 tons of goat meat and Vietnam will export frozen sea products for a trial period.