Polish mining machinery producer Famur may sign contracts worth $100 million with companies in Mongolia, Economy Minister Janusz Piechociński said. Famur was one of 40 businesses that took part in a Polish-Mongolian economic forum on Monday.
The Polish firm signed letters of intent for the supply of machinery to three Mongolian mining companies: Baganuur, Tsagaan Shonkhor Holding and Tsetsens Mining and Energy.
Mr Piechociński said that apart from Famur, other Polish sector companies, including Damel, Kopex and Węglokoks, have plans to do business in Mongolia. He expects Polish-Mongolian cooperation in the mining industry to increase in the coming years.
Minister Piechociński and Mongolian Minister of Mining Davaaj Gankhuyag signed a declaration of cooperation in the mining sector.
“We will increase our involvement in the mining industry and we will share our experience in the field,” said Mr Piechociński. The declaration also covers an exchange of scientific knowledge and education of the sector employees.
According to Ministry of Economy data, after seven months of 2013, Poland's exports to Mongolia were worth €23 million, 22 percent more than the same period of 2012. Imports from Mongolia amounted to just €36,000.
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