A high level 5-member delegation from Mongolia recently visited the Multi Commodity Exchange of India in Mumbai to get familiar with the various operational, economic and self-regulatory aspects linked to successfully operating a commodity exchange. The delegation was led by O. Erdenebulgan, Vice Minister, Ministry of Mining.
Mongolia is planning to set up a mineral resource commodity to achieve price discovery within its domestic economy and enable price risk management. At a ceremony at the conclusion of the visit, Dr. Nilanjan Ghosh, MCX Chief Economist, said, “Our meeting led to mutual knowledge sharing. While MCX made presentations about its innovations, operations, and robust risk management, it also enabled us to learn about the market priorities of the Mongolian economy. Our experience thus far has helped create the knowledge base to share with others. Our training initiatives will also be moving in that direction.” Erdenebulgan said, “We are very happy to find a capable knowledge sharing platform in MCX. We have been enriched by the learning we have gathered from MCX and would surely find this knowledge very useful in operationalising our proposed commodity exchange at Mongolia.”