Ch.Saikhanbileg talks about collaboration with ASEM Finance Ministers’ Meeting participants

Cabinet members meeting Minister Aso

Prime Minister Ch.Saikhanbileg met with participants of the Asia-Europe Meeting (ASEM) Finance Ministers’ Meeting, including European Commissioner for the Euro and Social Dialogue Valdis Dombrovskis, Deputy Prime Minister and Minister of Finance of Japan Taro Aso, and Deputy Managing Director of the International Monetary Fund (IMF) Mitsuhiro Furusawa to discuss and exchange views on cooperation.

At the meeting with Commissioner Valdis Dombrovskis, the PM said that organization of the ASEM Summit and its Finance’s Ministers’ Meeting is a great honor for the Mongolian government.

Dombrovskis thanked the Mongolian government for inviting him to the ASEM Finance Ministers’ Meeting, and affirmed that the EU will send high-level delegates to the ASEM Summit being held on July 16 and 17.

Ch. Saikhanbileg underlined that EU members are significant investors in Mongolia, and noted that since 1990, around 835 European companies have made a total of 5.7 billion USD in investments in Mongolia. The PM said that Mongolia is willing to expand cooperation with the EU in the fields of energy, renewable energy, agriculture, information technology, and infrastructure. He also said that Mongolia will focus on introducing technology, know-how, and standards from Europe.

At the meeting with Finance Minister Aso, the PM emphasized that strategic partnership relations between Mongolia and Japan are intensively developing, and that he was happy that cooperation between the two countries is intensifying in the regional and international arenas.

The PM emphasized that Mongolia places a high priority on developing friendly cooperation and relations with Japan. Ch.Saikhanbileg said that as a result of efforts of the two countries’ parliaments and governments, the Mongolia-Japan economic partnership agreement was signed and became effective. “I am sure that the partnership agreement will consistently boost trade and investment cooperation between the two countries,” the PM underlined.

Ch.Saikhanbileg said that he was happy that the implementation of a mid-term program under the Mongolia-Japan strategic partnership is at 90 percent completion, and added that Mongolia is willing to consult with Japan about establishing a second mid-term program, and to discuss projects to be implemented under the next program, including projects in railway, coal, the chemical industry, and agriculture.

Finance Minister Aso thanked the PM for the reception, and emphasized that Mongolia has developed rapidly since his first visit in 1990, and noted that Japan adheres to a policy to boost relations and cooperation with Mongolia.

During his meeting with the IMF’s Deputy Managing Director Furusawa, Prime Minister Ch.Saikhanbileg noted that Mongolia’s macroeconomic indicators have improved, and that the nation’s economy is expected to improve despite prices for mineral products decreasing in the global market.

The PM said that the commencement of Oyu Tolgoi’s underground mine development and putting the Gatsuurt gold deposit into economic circulation will improve and advance the nation’s economy.

In response, Furusawa said that he believes Mongolia’s economic conditions will be brighter in the near future and said that the IMF will continue supporting the country.

The Cabinet reported that although Mongolia has not yet implemented any joint projects with the IMF, the two bodies have collaborated in determining budget policy.