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Cabinet officials

Mongolia Supports Central Asian Countries in Overcoming COVID-19 Challenges

Strategic Insights

— 1 min read

Mongolia's Minister for Foreign Affairs, D.Tsogtbaatar, participated in an OECD online discussion on supporting the private sector revival in Central Asia on June 10, 2020. The discussion brought together ministers and officials from Central Asian countries, the OECD, EU, and UNECE to share views on overcoming economic and social development challenges caused by the COVID-19 pandemic. Mongolia briefed the meeting on its policies to support businesses and ensure public health safety, emphasizing the need for international cooperation to mitigate the economic consequences of the pandemic. Participants agreed that measures such as deferring tax payments, paying salaries, and expanding loan guarantees are essential to supporting private sector activities.

Key Takeaways:

  • Mongolia's Ministry for Foreign Affairs participated in an OECD online discussion on supporting the private sector revival in Central Asia, with a focus on overcoming COVID-19 challenges.
  • The discussion brought together Central Asian countries, the OECD, EU, and UNECE to share best practices and views on social and economic development challenges.
  • Mongolia briefed the meeting on its policies to support businesses and ensure public health safety, emphasizing the importance of international cooperation in mitigating the pandemic's economic consequences.
  • Participants agreed that measures like deferring tax payments, paying salaries, and expanding loan guarantees can help reduce the economic impact of the pandemic and support private sector activities.
  • Countries in the region need to strengthen health confidence as they resume trade and economic activities.

Statistics:

  • The online discussion was attended by ministers and officials from six Central Asian countries, the OECD, EU, and UNECE.
  • The participants noted that deferring tax payments, paying salaries, and expanding loan guarantees are the most effective measures to reduce the economic impact of the pandemic and support private sector activities.
  • The meeting highlighted the importance of international cooperation in mitigating the economic consequences of the pandemic, with guest speakers emphasizing the need for joint efforts to overcome unprecedented challenges.

Sources:

  • OECD online discussion on Supporting the Private Sector Revival in Central Asia, June 10, 2020.
  • Contify.com, "Mongolia Participates in OECD Discussion on Supporting Private Sector Revival in Central Asia"

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