Also, the proposed duty-free treatment by the USA to Mongolia cashmere products and 25 percent duty of China on knitted products are viewed as great opportunities to encourage exports.
Mongolia supplies around 40 percent of the world raw cashmere demand and it is deemed that the domestic production of final cashmere products for exports would increase the economic values by five times and the export revenue alone to reach USD 1.7 billion. In the scope of the third Mongolia-China Expo held in Ulanqab of Inner Mongolia, China, a forum on the development of the cashmere industry was held to discuss policies and mutually beneficial partnership in the Mongolia and China’s cashmere fields.
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