MONGOLIA PROPOSES TO ESTABLISH INTEGRATED INSURANCE SYSTEM FOR TRANSPORT LOGISTICS IN THE ASIA PACIFIC REGION

Mongolia proposed to launch an integrated insurance system for transport logistics in the Asia Pacific Region during the Global Digital Dialogue 2024: Sustainable Digital Transformation of Landlocked Developing Countries held at the United Nations Resident Coordinator Office on August 14, 2024. 

On this proposal, State Secretary of the Ministry of Road and Transport of Mongolia Batbold Sandagdorj said, “We are proposing to the various UN organizations in Mongolia to have an integrated insurance system for transport logistics in the Asia Pacific Region. This initiative offers the potential to comprehensively address the numerous issues and challenges facing the transport and logistics sector. While intergovernmental agreements and contracts are important, they cannot always resolve these problems. It is essential to approach this issue from a regional perspective.”

During the International Dialogue, the issues concerning dry ports were discussed in detail. Kishore Babu Yerraballa, the Area Representative for Southeast Asia of the International Telecommunications Union, emphasized the importance of dry ports for landlocked developing countries. He highlighted that dry ports equipped with digital utilities are highly efficient. In his presentation, “Mongolian Information Technology Sector Readiness,” Mr. Yerraballa also noted that Mongolia improved its ranking on the Information Communication Technologies Development Index (ICT DI), rising from 85.9 to 87.

Dulguun Damdin-Od, the Executive Director of the International Think Tank for Landlocked Developing Countries, expressed support for the development of dry ports in Mongolia. He emphasized that facilitating trade and transport, along with diversifying the economy, will enhance cooperation with neighboring and transit countries, as well as international partners.

Head of the Board of Directors of the Federation of Mongolian Freight Forwarders N. Enkhnasan underscored that developing dry ports is crucial for a landlocked country like Mongolia and highlighted the need to increase private sector participation in the transport logistics sector. In his presentation, “Challenges Facing the Transport Sector in Mongolia,” he stressed the readiness of professional institutions to conduct technical and economic feasibility studies. He stated, “It is time for Mongolia to establish a centralized transport logistics corporation, which will enable the country to cooperate, compete, and connect with other countries through an integrated platform. While Mongolia's trade sector is progressing, the logistics sector is lagging, unlike other countries where the reverse is true.”

Source: MONTSAME