Cos­met­ics com­pa­nies to clus­ter

The UB Post - - Business & Economics -

The Euro­pean Union (EU)’s Trade Re­lated As­sis­tance to Mon­go­lia (TRAM) project team estab­lished a mem­o­ran­dum of co­op­er­a­tion with Mon­go­lian cos­met­ics com­pa­nies to form a clus­ter.

“EU TRAM is aimed at pro­mot­ing ex­ports of non-min­ing prod­ucts and it will be im­ple­mented through March 2021. We will be at­ten­tive to­wards launch­ing prod­ucts in Euro­pean mar­ket as the project is backed by the EU,” said a se­nior ad­vi­sor to the project.

A study, con­ducted un­der the project in Mon­go­lia in July, high­lighted four sec­tors that needed more at­ten­tion. One of them was the ex­port of or­ganic prod­ucts. The ex­port­ing sec­tor was con­sid­ered pro­pi­tious as it is rich in raw ma­te­rial re­sources and is rec­og­nized in­ter­na­tion­ally be­cause of the unique fea­tures of the Mon­go­lian no­madic lifestyle.

Cur­rently, many cos­met­ics com­pa­nies are op­er­at­ing in Mon­go­lia. These com­pa­nies mainly use or­ganic raw ma­te­ri­als in­clud­ing net­tle, sheep tail fat oil, sea buck­thorn, mare’s milk, and camel bone mar­row, among other in­gre­di­ents. When in­di­vid­u­ally ex­port­ing their prod­ucts, the pro­duc­ers face a num­ber of chal­lenges such as fac­tory ca­pac­ity, prod­uct ad­ver­tis­ing and pack­ag­ing to com­pete against glob­ally rec­og­nized brands, as men­tioned by spe­cial­ists.

As a so­lu­tion, the EU TRAM project team is con­duct­ing var­i­ous ac­tiv­i­ties on clus­ter­ing and pro­vid­ing es­sen­tial rec­om­men­da­tions to com­pa­nies.

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