Premier asks Japanese entrepreneurs to invest in Mongolia

Premier J.Erdenebat and Shinzo Abe at their joint news conference

Mongolia and Japan’s Prime Ministers held a joint news conference on Friday, after their official meeting held to strengthen bilateral relations between their two countries.

Prime Minister J.Erdenebat highlighted that the visit to Japan was his first trip abroad since being appointed in July. He noted that his meeting with Prime Minister Shinzo Abe took place in terms of mutual understanding, trust, and kindness.

J.Erdenebat pointed out that Japan has assisted Mongolia in strengthening democracy and adopting a free market system, and that Mongolia will work with Japan in global and regional arenas. J.Erdenebat said that Mongolia is concentrating on developing its strategic partnership with Japan, which exists in the same geographic region and stands by the same principles as Mongolia. He said that the sides agreed to kick off cooperation in a wide range of issues, including politics, the economy, culture, education, and humanitarian concerns, by building mutual trust and taking bilateral relations to a new level.

The Prime Minister added that his visit focused on strengthening business relations and people-to-people relationships. Prime Minister J.Erdenebat emphasized that the sides also agreed to implement a new midterm program for the development of the strategic partnership between the two countries, from 2017 to 2021, and they discussed the projects being implemented for the program.

Prime Minister Shinzo Abe emphasized that Japan considers Mongolia a strategic partner because Mongolia upholds democracy, freedom, and human rights. He noted that the PMs held a very effective, meaningful, and important meeting. Abe added that they agreed to devise a new program for relations between the two countries during the 11th ASEM Summit, which took place in Ulaanbaatar in July.

Prime Minister Abe said that the program is a road map to determine directions for cooperation, and that the sides agreed to expedite a draft of the project.

Prime Minister J.Erdenebat also addressed the attendees of a Mongolia-Japan trade and investment forum being held in Tokyo. He told the forum’s attendees that the Government
of Mongolia is concentrating on providing macroeconomic stabilization and seeing economic recovery. Prime Minister J.Erdenebat stressed that Mongolia is ready to collaborate with Japanese entrepreneurs and investors by creating a sustainable environment for investment in Mongolia.

J.Erdenebat pointed out that Mongolia and Japan’s free trade agreement and economic partnership agreement are significant to creating a sustainable environment for taking Mongolia and Japan’s trade, investment, and economic relations to a new level; reducing taxes on exports step by step; diminishing trade barriers; and increasing the use of innovative technology.

He emphasized that pursuing the economic interests of Japan, a leading global economic power, and boosting bilateral trade, Japanese investment, and building trust among Japanese investors are key pieces of Mongolia’s economic policy. He said that Mongolia wants to adopt Japan’s advanced technology to expand the types of products being exported from Mongolia to Japan, and developing the mineral resources and animal husbandry industries, increasing cost-effective manufacturing.

The Mongolian Prime Minister noted that Japan has invested 262 million USD in Mongolia from 1990 to 2016, and that as of 2015, there were 551 Japanese enterprises conducting business in Mongolia, citing Toyota, Hitachi, Fuji Xerox, Nissan, Kawasaki, Suzuki, and Bridgestone distributors officially operating in Mongolia. He said that collaboration between entrepreneurs, community organizations, and nongovernmental organizations are essential to strengthening relations and cooperation between the two countries.

He pointed out that organizations like the Mongolian National Chamber of Commerce and Industry, Japan-Mongolia Economic Committee, and Japanese University Graduates Association of Mongolia are contributing to developing economic cooperation.

The PM thanked the Japan External Trade Organization for greatly contributing to the organization of the forum, and wished for cooperation between Japanese and Mongolian businesses to be like “the best horses”, strong and surefooted.