Mongolia has a comparative advantage in agribusiness, especially downstream industries using livestock products. Yet its share in worldwide exports of agribusiness commodities is insignificant. Enhancing the efficiency of the central economic corridor (CEC) is vital to Mongolia’s effort to improve trade competitiveness and diversify exports. The role of Mongolia’s economic corridors is best understood when seen as an integral part of the country’s supply chain.
Agricultural innovation has played a critical role in the economic transformation of developing East Asian countries over the past half century. This transformation began with the diffusion and adoption of high-yielding seed varieties, modern fertilizers, and other agricultural technologies (for example, pesticides, machinery), commonly known as the Green Revolution.
Meeting rising global demand for food and responding to changes such as climate change, globalization, and urbanization will thus require good policy, sustained investments, and innovation – not business as usual. Agricultural innovation enables the agriculture sector, farmers and rural entrepreneurs to adapt rapidly when challenges occur and to respond readily when new opportunities arise – for example in the fields of technology and markets.