71st SESSION OF THE UN GENERAL ASSEMBLY
20 October 2016
STATEMENT BY H.E. MR. SUKHBOLD SUKHEE,
AMBASSADOR EXTRAORDINARY AND PLENIPOTENTIARY,
PERMANENT REPRESENTATIVE OF MONGOLIA TO THE UNITED NATIONS ON AGENDA ITEM 17 – MACROECONOMIC POLICY QUESTIONS
My delegation associates itself with the statements made by the distinguished representatives of Thailand on behalf of the Group of 77 and China.
I also wish to thank the Secretary General for his comprehensive reports submitted under this Agenda Item.
The Government of Mongolia attaches great importance to regaining investor’s confidence and establishing favorable investment environment for both domestic and foreign investors.
Mongolia’s economic growth has slowed dramatically due to commodities’ price slump on international markets, wide budgetary expenditures as well as pressures of the sovereign debt.
Thus, the Government of Mongolia is targeting on expanding its economy in the mid-term, ensuring macroeconomic stability, diversifying the structure of the economy, reducing vulnerability from commodity price fluctuations, easing balance of payments pressures, lessening debt burden and generating economic resilience.
As mentioned in the statement of the Group of 77 and China, fair and balanced, open, inclusive, non-discriminatory, transparent, equitable, rule-based and predictable multilateral trading system must be promoted and strengthened, allowing developing countries to effectively engage in global trade and improve their financing capacity to enhance development. Pursuant to the above, our government is working towards acceding to the Asia-Pacific Trade Agreement and has set up plans to study and commence negotiations on Free Trade Agreements with Eurasian Economic Union and our major trade partners.
In this regard, the Government of Mongolia is also working to accede to the Trade Facilitation Agreement of WTO and further getting it to be ratified by the Parliament of Mongolia.
The Government of Mongolia has concluded Economic Partnership Agreement (EPA) with Japan which became an effective on June 2016 and we will continue negotiating similar agreements with other main trade partners. The EPA improves business and investment environment as it ensures transparency, proper application of customs laws and prompts clearance of goods. The parties are obliged to apply customs procedures in a predictable, consistent and transparent manner and harmonize customs procedures.
The newly adopted Government’s Action Plan focuses on deepening Mongolia’s economic partnership with its direct two neighbors.
During the first trilateral summit of the Presidents of Mongolia, China and Russia, held in Dushanbe, Tajikistan in September 2014, the parties agreed to broaden economic cooperation. As a result of this initiative, the program of establishing an Economic Corridor connecting the three nations was signed during the third summit of the Presidents of Mongolia, China and Russia, held in Tashkent, Uzbekistan in June 2016.
The program of establishing an Economic Corridor is focused on cross-border trade, facilitating trade and investment, construction of railroads, paved roads and power lines connecting the three countries markets.
In conclusion, to achieve the Sustainable Development Goals by 2030, the Government of Mongolia highlights importance of developing agricultural sector, improving logistics network as well as increasing investment in different sectors and new technologies.
I thank you, Mr. Chairman.