CERBA logo

An Overview of Business Opportunities in Uzbekistan and Mongolia

Format: Luncheon Seminar
When: Wednesday, April 25th, 2012 at 11:45:00 AM
Where: Azure Room - McDougall Centre - 455 - 6th Street SW. Calgary
Member Price: $ 20.00 CAD including taxes
Regular Price: $ 25.00 CAD including taxes

An interactive presentation about two regions of Central Asia of which have have significant potential of growth and available opportunities for Canadian investors.


Mr. Erkin Atakhanov, Senior Manager, Audit and Assurance Group, PriceWaterhouseCoopers in Calgary ,will inform us of the economic strengths of both countries and offer what areas may be of interest to Alberta companies.




Uzbekistan has an area of 447,400 square kilometres (172,700 sq mi). It is the 56th largest country in the world by area and the 42nd by population.[10] Among the CIS countries, it is the 5th largest by area and the 3rd largest by population.


Uzbekistan lies between latitudes 37° and 46° N, and longitudes 56° and 74° E. It stretches 1,425 kilometres (885 mi) from west to east and 930 kilometres (580 mi) from north to south. Bordering Kazakhstan and the Aral Sea to the north and northwest, Turkmenistan to the southwest, Tajikistan to the southeast, and Kyrgyzstan to the northeast, Uzbekistan is not only one of the largest Central Asian state but also the only Central Asian state to border all the other four. Uzbekistan also shares a short border (less than 150 km or 93 mi) with Afghanistan to the south.
Uzbekistan is a dry, landlocked country; it is one of two doubly landlocked countries in the world; that is, a country completely surrounded by landlocked countries - the other being Liechtenstein. Less than 10% of its territory is intensively cultivated irrigated land in river valleys and oases. The rest is vast desert (Kyzyl Kum) and mountains.



On stocks of gold, the republic occupies the fourth place in the world, in terms of its mining seventh place (about 80 tons of gold annually), the stocks of copper - tenth, eleventh, uranium - the eleventh - a twelfth place, but on its mining - the seventh-eighth place (World Nuclear Association, European Nuclear Society and British Geological Survey). Uzbekistan is the twelfth largest in the world uranium reserves and the seventh of its production. National company "Uzbekneftgas" ranks 11th in the world in natural gas production (annual gas - 60-70 billion m ³). 194 deposits of hydrocarbons, including condensate and natural gas - 98, oil and gas, oil and gas condensate - 96. Significant untapped reserves of oil and gas. The largest corporations in the energy sector - CNPC (China National Petroleum Corporation), Petronas (Malaysia), KNOC (Korea), Gazprom, Lukoil, Uzbekneftgas.





At 1,564,116 km2 (603,909 sq mi), Mongolia is the world's 19th-largest country (after Iran). It is significantly larger than the next-largest country, Peru. It mostly lies between latitudes 41° and 52°N(a small area is north of 52°), and longitudes 87° and 120°E.

Economic activity in Mongolia has traditionally been based on herding and agriculture, although development of extensive mineral deposits of copper, coal, molybdenum, tin, tungsten, and gold have emerged as a driver of industrial production. Besides mining (21.8% of GDP) and agriculture (16% of GDP), dominant industries in the composition of GDP are wholesale and retail trade and service, transportation and storage, and real estate activities.[ The grey economy is estimated to be at least one-third the size of the official economy. As of 2006, 68.4% of Mongolia's exports went to the PRC, and the PRC supplied 29.8% of Mongolia's imports.

Mongolia is ranked as lower middle income economy by the World Bank. 22.4% of the population lives on less than US $1.25 a day.GDP per capita in 2011 was $3,100. Despite growth, the proportion of the population below the poverty line was estimated to be 35.6% in 1998, 36.1% in 2002-2003, 32.2% in 2006.
Because of a boom in the mining sector, Mongolia had high growth rates in 2007 and 2008 (9.9% and 8.9%, respectively). In 2009, sharp drops in commodity prices and the effects of the global financial crisis caused the local currency to drop 40% against the U.S. dollar. Two of the 16 commercial banks were taken into receivership. GDP growth in 2011 was expected to reach 16.4%. However, inflation continued to erode GDP gains, with an average rate of 12.6% expected in Mongolia at the end of 2011. Although GDP has risen steadily since 2002 at the rate of 7.5% in an official 2006 estimate, the state is still working to overcome a sizable trade deficit. The Economist expects this trade deficit of 14% of Mongolia's GDP to transform into a surplus in 2013.

Mongolia was never listed among the Emerging markets countries until February 2011 when Citigroup analysts determined Mongolia to be one of Global Growth Generators countries which being countries with the most promising growth prospects for 2010-2050. The Mongolian Stock Exchange, established in 1991 in Ulan Bator, is among the world's smalleststock exchanges by market capitalisation. In 2011, it had 336 companies listed with a total market capitalization of US$2 billion after quadrupling from US$406 million in 2008.



 Maps (Last Updated:15-Apr-2012)




Current day's noon foreign exchange rates from the Bank of Canada. Published at about 12:15 ET.

32.6264 RUB = 1 CAD 2014-07-30 Bank of Canada noon
0.6852 EUR = 1 CAD 2014-07-30 Bank of Canada noon
0.9167 USD = 1 CAD 2014-07-30 Bank of Canada noon



(read all)

2014-07-25 08:14:54
S&A wins "Cypriot Tax and VAT Advisory Firm of 2014

Read More
2014-07-24 17:14:52
Canada Announces Further Sanctions: Statement by the Prime Minister of Canada

Read More