Minister of Mineral Heavy Industry of Mongolia, Mr. Wyndham, and his party visited the Russian Federation from March 7 to 11. During the visit, the delegation visited the Moscow International Commodity Exchange to learn about its operation.
Not long ago, the Mongolian government submitted a draft law on mineral exchanges to the Mongolian Great Hural. The two sides reached agreement on the rules of the exchange, the legal environment, the advantages of state-owned and private enterprises in trading on the exchange, and the establishment of a coal market. The two sides exchanged experiences in the fields of carrying out their activities, organizing commodity exchange transactions, and commodity market activities, and exchanged views on further cooperation.
During the meeting, Alexei Rybnikov, President of the Exchange, introduced the operation of the online platform of the Exchange and the trading process to the guests.
Mongolia's Minister of Mineral Heavy Industry, Wyndham, said: "We are grateful for the fruitful discussions on our issue and hope that Russia's rich experience in developing commodity exchanges will help us. The Mongolian side intends to exchange experience and train talents in the field of stock exchanges, and hopes that the Russian side will support and carry out comprehensive cooperation. ”
Alexei Rybnikov, President of the St. Petersburg International Commodity Exchange, said: "We are willing to share with our Mongolian friends the knowledge and experience we have gained in conducting exchange transactions, setting market prices, establishing fair systems, and registering excessive transactions. We hope that this will contribute to the further development of the Mongolian economy. ”
Founded in 2008, the exchange is the largest commodity exchange in Russia and aims to establish fair pricing and transparent mechanisms.