Mongolia to boost cashmere processing, aims for economic growth

Mongolia is launching a national campaign called ‘White Gold’ to support its wool, cashmere, and leather processing industries. The goal is to significantly increase processing capacity and exports of these products by 2028.

Under the campaign, enterprises in these sectors are expected to receive billions of dollars in loans to invest in processing facilities. Mongolia aims to increase the level of full cashmere processing from 20 per cent to 40 per cent, with exports rising from $398 million to $690 million.

Similar increases are expected for wool and leather processing. The campaign is also expected to create over 8,000 new jobs in these sectors. Promoting livestock husbandry is a key strategy for diversifying Mongolia's mining-dependent economy. Mongolia has an average annual production capacity of 37,000 tonnes of sheep wool, 10,000 tonnes of goat cashmere, and 18 million pieces of hides and skins.