Trade Partners: Nations on friendly terms with a society
Mongolia: Virtually unlimited partners
Situated between two large economies, Mongolia has little issue finding trade partners. Its major resources are comprised of mined metals, such as gold, iron, silver, and tungsten. The country is currently very dependent on Russia for petroleum products and electricity. According to the CIA Factbook, it purchases 95% of its petroleum from Russia, leaving it vulnerable to price increases, but currently supported nonetheless.
According to the United Kingdom's Mongolian Embassy, the government is committed to maintaining friendly trade relations with many developed countries in the region and around the world, including India, South Korea, Japan, Thailand, Singapore, Turkey, Denmark, the Netherlands, Finland, Austria, Sweden, Switzerland, former Soviet nations and the United States.
Due to the large number of economically healthy relationships available to Mongolia, I give it a 9 for trade partners.
According to the United Kingdom's Mongolian Embassy, the government is committed to maintaining friendly trade relations with many developed countries in the region and around the world, including India, South Korea, Japan, Thailand, Singapore, Turkey, Denmark, the Netherlands, Finland, Austria, Sweden, Switzerland, former Soviet nations and the United States.
Due to the large number of economically healthy relationships available to Mongolia, I give it a 9 for trade partners.
Israel: United States and European Union
Currently, Israel's closest friendly trade partners are the United States and the EU. The U.S. and Israel have many trade agreements, as each relies heavily on the other for support in the hostile and unstable Middle East. The most recent agreement was the Israel Opening Market Measures Agreement, which further opened commerce between the two nations to include telecommunication services and products from Israel. According to Foreign Trade Exchange, via the U.S. Census Bureau, exports from Israel into the U.S. totaled over $19 billion in 2008, while imports totaled over $12 billion. The majority of exports are in uncut or unset diamonds, aircrafts, and scientific and medical equipment.
The EU is not far behind the U.S. in trade with Israel. According to the European Commission, in 2009, the former accounted for 29.3% of exports, while the latter held 32.9%. The majority of exports into the EU include machinery and transport equipment, chemicals and agricultural products.
For these two strong relationships, but lack of other close ones, I give Israel a 7 for trade partners.
The EU is not far behind the U.S. in trade with Israel. According to the European Commission, in 2009, the former accounted for 29.3% of exports, while the latter held 32.9%. The majority of exports into the EU include machinery and transport equipment, chemicals and agricultural products.
For these two strong relationships, but lack of other close ones, I give Israel a 7 for trade partners.
