Mongolia RISK & COMPLIANCE REPORT DATE: December 2017
Mongolia RISK & COMPLIANCE REPORT DATE: December 2017 KNOWYOURCOUNTRY.COM Executive Summary - Mongolia Sanctions: None FAFT list of AML No Deficient Countries Weakness in Government Legislation to combat Money Laundering Higher Risk Areas: Not on EU White list equivalent jurisdictions EU Tax Blacklist Corruption Index (Transparency International & W.G.I.) Non - Compliance with FATF 40 Recommendations Medium Risk Areas: US Dept of State Money Laundering Assessment World Governance Indicators (Average Score) Failed States Index (Political Issues)(Average Score) Major Investment Areas: Agriculture - products: wheat, barley, vegetables, forage crops; sheep, goats, cattle, camels, horses Industries: construction and construction materials; mining (coal, copper, molybdenum, fluorspar, tin, tungsten, and gold); oil; food and beverages; processing of animal products, cashmere and natural fiber manufacturing Exports - commodities: copper, apparel, livestock, animal products, cashmere, wool, hides, fluorspar, other nonferrous metals, coal, crude oil Exports - partners: China 88.9%, Canada 4.1% (2012) Imports - commodities: machinery and equipment, fuel, cars, food products, industrial consumer goods, chemicals, building materials, cigarettes and tobacco, appliances, soap and detergent Imports - partners: China 37.6%, Russia 25.7%, US 9.4%, South Korea 6.1%, Japan 4.9% (2012) 1 Investment Restrictions: Although the Government of Mongolia (GOM) has consistently said that it supports foreign direct investment (FDI) in all sectors, investors assert
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