Reporting live from the EBRD Trade Facilitation Programme (TFP) Trade Finance Forum in Vienna, we bring you an exclusive interview with Tsolmon Bat-Erdene, Manager of FI and TF in the International Banking Department at Khan Bank, Mongolia.
Tsolmon sheds light on the trade challenges and promising opportunities that Mongolia faces. Sandwiched between two of the world’s largest countries, Mongolia navigates geopolitical risks and transportation challenges in cross-border trade.
Despite these challenges, Mongolia anticipates a significant boost in trade with the full operation of the Oyu Tolgoi mine of Rio Tinto, set to become the world’s fourth-largest mine of its kind in the next few years. Tsolmon also emphasises the importance of financial literacy, especially among their retail-oriented client base, and highlighted their efforts to educate clients about the benefits of formal trade finance structures.
This interview underscores the cautious optimism for Mongolia’s trade prospects and the role of education and development institutions in driving progress.
Watch the full interview for more insights.