U.S.-based international law firm Hogan Lovells has
entered into its first alliance since its 1 May merger after sealing an entente
with Mongolian firm GTs Advocates. The two firms have been loosely affiliated
for the last three years. Hogan Lovells partner Michael Aldrich has been
seconded to GTs since April 2009 and will continue to be resident in
Ulaanbaatar.

GTs Advocates is a full-service firm and represents
Mongolian companies as well as multinational corporations, investment banks,
private equity firms and funds from North America, Europe and Asia. It recently
advised Citigroup and Macquarie Bank as sponsors of the USD439-million Hong
Kong secondary listing of South Gobi Energy.

Hogan Lovells’ alliance means it is an international firm
with a meaningful presence in the increasingly lucrative Central Asian nation.
To date, two Chinese firms have opened offices in Mongolia: Longan opened
earlier this year in association with local firm Zata, while Lehman, Lee &
Xu opened an office Ulaanbaatar in 2002.

The National Tourism Center has released figures
revealing a 50.9% increase in the number of tourists arriving in Mongolia in
the first six months of 2010 over the corresponding period last year. Citizens
from Asia Pacific countries account for more than half of the 233,612 foreign
citizens who came, followed by those from Europe.

Last year was bad for the industry, with the global
economic recession complementing the swine flu scare in Mongolia to finally
show a 20% slump from arrivals the previous year. This year tourists are estimated
to have contributed USD88.3 million to Mongolia’s economy.