Tuesday, 12 May 2015 00:00

Joint Mongolian-Korean maritime company to be established

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Joint_Korean_Mongolian_maritime_companyOn May 12, the Government cabinet has discussed about the possibility of the establishment of Joint Mongolian-Korean maritime company.

According to the Government, Mongolia has achieved some results in exercising its right as a landlocked country, accessing to the sea and participating in international trade and transportation with ships carrying Mongolian flag.

The joining of Mongolia in over 20 international maritime agreements and conventions and approval of the Law on Maritime Use and the Procedure of Registration of Ships, established a legal environment to benefit from maritime resources and marine transportation services.

The Government granted a right to the Minister of Road and Transportation – Tumurkhuu N. and the State Property Committee to start working on establishing a joint maritime company between the Maritime Administration at the Ministry of Road and Transportation of Mongolia and a maritime company registered in Korea that has Korean investment.