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Mongolia supplies around 40 percent of the world raw cashmere demand and it is deemed that the domestic production of final cashmere products for exports would increase the economic values by five times and the export revenue alone to reach USD 1.7 billion. Also, the proposed duty-free treatment by the USA to Mongolia cashmere products and 25 percent duty of China on knitted products are viewed as great opportunities to encourage exports.

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A great prospect for cooperation is a market for sewn and knitwear products and Mongolia, a country that supplies half of the world cashmere demand, is looking forward to the Third Neighbour Trade Act with the USA to pass. โ€œHowever, not dependent on the bill, Mongolia and Japan have great opportunities to renovate the wool and cashmere industries, introduce technologies to process wool materials and enjoy mutual benefits from the exportโ€ the President added.

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