A delegation of 9 people representing Ministry of Agriculture and Light Industry of Mongolia, Mongolian Commodity Exchange and brokers visited Australia from December 6-12.
During the visit, delegates visited the Australian Wool Exchange (AWEX) and exchanged views with its leadership on possibilities to expand cooperation between the two organizaitons. Sides discussed the ways to increase product range, attract more stakeholders, improve market infrastructure and increase competitiveness following a presentation about AWEX and its operations by AWEX’s Wool Services Manager David Cother.
Australian Wool Exchange commenced operations 1994 and currently consists of more than 180 members representing around 30,000 growers, brokers, exporters and associates. The membership of AWEX represents 95 per cent of wool traded in Australia each year and includes wool brokers, exporters, private treaty merchants, processors, wool producers and associates. It is worth noting that AWEX manages its own affairs in a self-regulated marketing environment, free of Government intrusion.