Tourism is one of the most dynamic sectors of the world. With total global demand reaching $7 trillion in 2007, it accounted for around 10% of the global gross domestic product and employed 240 million people. International tourist arrivals exceeded 880 million, with total receipts estimated at $700 billion.
By project appraisal in 2004, significant progress had been made in trade liberalization and trade-related policy by the Kyrgyz Republic, which was still in transition to private sector-led and market-oriented economy. This was evidenced by the country’s accession to the World Trade Organization in 1998.
In December 2006, the Asian Development Bank (ADB) approved a $5 million loan and $500,000 grant for Mongolia’s Customs Modernization Project. The project reflected government’s efforts to promote trade and improve the investment climate through customs reform and modernization. It also supported the country’s accession to the Revised Kyoto Convention of the World Customs Organization and the
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