A consultative meeting between the stakeholders of the government program, ‘Cashmere’, took place at the UNDP office in Mongolia, discussing what has been done in 2018 and plans for 2019.

Through the agreement made between the Ministry of Food, Agriculture and Light Industry and the Development Bank of Mongolia, 20 cashmere factories have received loans amounting to a total of MNT 188.2 billion with the funding given by the bank. As a result, at the factories the amount of unprocessed cashmere increased by 584.2 tons (1.3 times more), while combed cashmere increased by 124.9 tons (1.6 times more) compared to the previous year. They also reported that not only did the production capacity for combing grew by 33.8 percent, spinning by 28.6 percent and knitting by 42.7 percent, but also 1,544 job opportunities were provided in the past year.

It was also noted that the total export of the cashmere sector for 2018 grew by 18.2 percent, with combed cashmere growing by 8.45 percent, cashmere thread growing by 140 percent (3 times more) and ready-to-wear cashmere products growing by 8.5 percent.

Approved by the Government in 2018, the aims of the ‘Cashmere’ program are to have the amount of fully-processed cashmere goods reach 60 percent, increase environmentally friendly finished products and export as well as boosting the competitive capacity of domestically produced cashmere goods on the global market.

Source: Montsame.mn