Last week a Lithuanian business mission visited Mongolia. The mission included food industry, information technology, medicine, waste management, and education specialists. Together with the official delegation led by Asta Skaisgirytė Liauškienė, the Lithuanian foreign affairs vice minister, the business delegation met with representatives of several Mongolian ministries (the Nature and Tourism Ministry, the Education Ministry, the Finance Ministry, and the Agriculture and Light Industry Ministry) and attended the celebration to mark the 20th anniversary of the establishment of the Lithuanian-Mongolian diplomatic relations.

According to Daumantas Lapinskas, the Lithuanian economy vice minister and the official head of the business delegation, the rapidly growing Mongolian market opens new opportunities for Lithuanian businesspeople from various areas.

Says Lapinskas: "Mongolia is a newly opened market that provides interesting opportunities for our country's businesspeople. The rapid growth of the Mongolian economy, boosted by the fast development of natural resource extraction methods, allows the country's government to invest in those economic sectors that ensure social wellbeing and stable economic growth. And it is those sectors that Lithuanian businesspeople, with their experience and expertise, may successfully contribute to by providing services related to information technology, environmental management, education and other areas.

Alongside other businesspeople, representatives of the Penki Kontinentai Group visited Mongolia. Together with the members of the official delegation, the specialists from the BS/2 company, a member of the group, visited the Mongolian central bank, discussing the technological development of the banking sector, including trends and prospects. According to Paulius Bučelis, the head of the BS/2's Sales Department, the visit to Mongolia provided the opportunity to establish new useful contacts and to meet existing partners.

Says Bučelis: "We have been working in Mongolia since 2005. We have a significant number of customers here, and we have installed over half of the ATMs in Ulan Bator, the country's capital. While meeting representatives of Tridum e-Security and Khan Bank, our partners, we discussed current issues that were important for both parties, opportunities for business expansion, and prospects for new technologies. By participating in the meetings with representatives of official institutions, we had the opportunity to learn about this country's market situation and new trends, to establish useful contacts, and to discuss investment conditions."

At the meetings attended by the mission participants, a lot of time was dedicated to the opportunities for deploying the newest technological solutions. With Mongolia preparing to hold an open tender for the deployment of electronic signature, the Skaitmeninio Sertifikavimo Centras (SSC) company, a member of Penki Kontinentai, showed interest in this project. According to Edgaras Dadašovas, the head of the company's Commerce Division, the company's experience would allow it to offer quality services and modern solutions on the Mongolian market.

Dadašovas commented: "SSC is constantly participating in international events and trying to expand its business in Lithuania and beyond. Having been providing certification services and e-signature software installation/maintenance services since 2004, we can successfully use that experience in Mongolia. This country's market has a great potential and opens many new opportunities. Currently, we are actively working with potential partners, and we hope to offer our services on this country's market in the near future."

At the business forum timed to coincide with the mission and organized by the Mongolian National Chamber of Commerce and Industry, the Penki Kontinentai Group specialists told about their company, shared their significant experience in working in Mongolia, and presented products and services developed by the company to the representatives of various financial institutions such as Golomt Bank, XacBank, Chinggis Khaan Bank, and others.

In 2011, among Lithuania's 186 international trade partners, Mongolia ranked 73rd by trade volume ( LTL 43m). During that period, the list of items exported by Lithuania to Mongolia was topped by petroleum products (80%), office equipment (10%), and chemical products (5%).

Further Information

More about the Penki Kontinentai Group – www.5ci.lt.

More about SSC – www.ssc.lt.