Ulaanbaatar, 9 July 2025: At the invitation of Mongolia’s Foreign Minister, H.E. Battsetseg Batmunkh, during her official visit to ERIA’s office earlier this year, ERIA President Tetsuya Watanabe took part in the Mongolia Economic Forum (MEF) 2025, held in Ulaanbaatar from 8 to 9 July.

The MEF is the country’s leading platform for open dialogue on economic development and reform. This year’s edition, co-chaired by Prime Minister H.E. Zandanshatar Gombojav, brought together senior government officials, business leaders, and international experts to explore policy priorities and investment strategies in a shifting global landscape.

President Watanabe spoke at the plenary session titled ‘Strategic Resources and Global Supply Chains’ alongside the Deputy Chairman of the State Great Hural (Parliament), the Minister of Industry and Natural Resources, and leading private sector representatives.

In his remarks, President Watanabe drew on Southeast Asia’s experience in aligning natural resource management with industrial policy, highlighting Indonesia’s mineral downstreaming strategy as a notable example.

‘Mongolia could pursue a similarly strategic approach – tailored to its own context –by strengthening domestic processing capabilities and building value chains around key resources such as copper, lithium, and rare earth elements,’ he noted. 

These materials, he said, are essential for technologies ranging from electric vehicles and AI chips to clean energy systems and quantum computing.

President Watanabe also highlighted the opportunity for deeper collaboration between Mongolia and countries in Southeast and East Asia, particularly around investment, infrastructure, and technology transfer. 

On the sidelines of the forum, President Watanabe spoke with Mongolian media about the country’s prospects in global supply chains. He also had a brief exchange with Prime Minister Zandanshatar during the official reception dinner.

In May 2025, ERIA and Mongolia signed a Memorandum of Understanding focused on capacity building and support for Mongolia’s deeper engagement with ASEAN and East Asia. This partnership underscores ERIA’s commitment to fostering regional cooperation and sharing policy expertise to support Mongolia’s long-term development goals.