Domestic manufacturers produce cosmetics worth USD 2 million
A discussion under the theme, ‘Pressing issues in the Mongolian cosmetics sector and its solutions’ was jointly organized
In the framework of the 85thanniversary of the establishment of light industry in Mongolia, a discussion under the theme, ‘Pressing issues in the Mongolian cosmetics sector and its solutions’ was jointly organized by the Ministry of Food, Agriculture, and Light Industry and the Mongolian Cosmetics Cluster NGO. The discussion was attended by ministry officials, representatives of the ‘Mongolian Cosmetics Cluster’ NGO, Mongolian National Chamber of Commerce and Industry, Mongolian Academy of Sciences as well as representatives of over 30 cosmetics companies. The participants mainly discussed the current state of the domestic cosmetics market, pressing issues and opportunities for export, quality standards for commodities, legal framework, and establishing a platform for the value-added system. As of 2018, domestic manufacturers produced cosmetics worth USD 2 million. In the last 5 years, production has grown by 21 percent each year, with a variety of products continuing to increase. The export of products made with organic commodities without any additives is speculated to grow in the next few years. Currently, Mongolia is exporting organic cosmetic products to 16 countries. While only 4 percent of the products being manufactured were exported in 2013, the percentage has increased to over 30 percent in recent years.