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$3 million grant to assist Asian countries in opening borders to trade and business |
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Wednesday, 26 December 2007 |
 Mongolia will receive assistance
from the Asia Development Bank as it works to end border restrictions
which impede trade and business.
The Asian Development Bank
will provide a portion of a $3 million grant to Mongolia as a member
nations of the Central Asia Regional Economic Cooperation to create
simpler systems to safely open borders to business.
There has been a recognition
that the cost of international trade is much higher among landlocked
Asian countries due to their terrain as well as stringent border crossing
policies.
At border crossings of many
Asian countries rules such as animal quarantines, inspection of agricultural
products, and various compliance issues while driving the roads is seen
as preventing economic growth.
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