On May 25, 2025, the President of the Republic of Austria, Alexander Van der Bellen, made his first state visit to Mongolia, marking a historic milestone in the diplomatic relations between the two nations. As part of this visit, a business delegation of 25 representatives from 22 leading Austrian companies across various sectors arrived in Mongolia to explore opportunities for expanding bilateral trade and economic cooperation, forging new partnerships, boosting investment, and enhancing cross-sector collaboration.
On the second day of the visit, Trade and Development Bank, as a representative of Mongolia’s banking and financial sector, hosted the Austrian business delegation for a productive exchange of ideas and perspectives. /2025.05.26/
The meeting focused on fostering a more favorable investment climate and exploring opportunities to expand strategic partnerships and future collaborations between Mongolian and Austrian businesses.
It also marked a significant step forward in helping Mongolian enterprises connect with new markets and unlock global business opportunities.
TDB maintains correspondent relationships with over 100 international banks and has been actively partnering with Erste Bank—one of Austria’s largest banks—since 2015.
As of Q1 2025, TDB has executed 32% of all foreign transactions in Mongolia, with approximately 10% of euro-denominated transactions processed through its account with Erste Bank—further testament to the strength and effectiveness of this cooperation.
THE TRADE AND DEVELOPMENT BANK