Ambassador R.Bold had a video meeting with Mr. Serdar Ersoy, Chief Growth Officer of DeFacto Company, one of the largest clothing chain stores in Turkey, about possibilities of expanding its business in a new frontier - Mongolia.

B.Naran, 1^st Secretary in charge of Trade and Economic Affairs, gave him a brief introduction of economy, particularly growth of retail business in the country, which composes approximately 14 percent of the GDP. The prospect of the retail business is even brighter with the growth of the economy, which has had significant effect on the purchasing power of households.

Mr. Ersoy in return also briefed about his company that has over 500 stores in 30 countries of 75 are franchise stores. As a Chief Officer in charge of growth of the company, Mr. Ersoy expressed to look into Mongolia if there’s a potential business opportunity.