AKIPRESS.COM - Mongolian Cabinet adopted a program titled ‘Cashmere’ to boost the cashmere industry, Montsame reported.

The four-year program is expected to increase Mongolia’s production and export of final cashmere products 5.7 times. The program fund will be generated from the state and local budgets and foreign loans and aids.

The ‘Cashmere’ program will be implemented with two stages, maintaining 5,500 jobs and newly creating about 3,600 jobs in the national cashmere industry.

Mongolia’s goat population counts to 27 million, and annual cashmere capacity is 9,400 tons. However, about 90 percent of the total cashmere is exported and 10 percent are made into final products.

It has been calculated that Mongolia can export 19.8 million knitted and textile products to earn about MNT 2 – 4 trillion per annum, if cashmere is fully processed home.