Prime Minister J.Erdenebat participated in the annual St. Petersburg International Economic Forum, which was held on June 1-3. During the 21st St. Petersburg International Economic Forum, the forum’s delegates held mutually beneficial dialogues on the key global issues regarding the economy and finances.
Prime Minister J.Erdenebat gave a speech to the forum’s delegates, and emphasized that Mongolia is a landlocked developing country. He noted that there are more than 30 landlocked developing countries in the world, and the way to deal with the challenges facing these countries is regional cooperation. He noted that Mongolia has a number of opportunities to improve its economic growth, including significant renewable energy and natural resources, and sharing borders with two strong markets.
The PM stressed that the Government of Mongolia is working to regain creditability with investors thanks to the assistance of multilateral organizations, especially the International Monetary Fund, in addressing the nation’s economic challenges and maintaining macroeconomic balance. He called on Russian investors and businessmen to collaborate with Mongolia by investing in and bringing their technology to Mongolia’s energy, roads, railway, and agricultural sectors.
Prime Minister J.Erdenebat met with Acting Head of Russia’s Republic of Buryatia Alexey Sambuevich Tsydenov, to discuss developing mutual cooperation between Mongolia and Buryatia. During their meeting, the sides emphasized that since launching the implementation of an agreement between the governments of Mongolia and Russia on establishing a visa waiver for all passport holders of the two countries, trade turnover in areas along the Mongolian and Russian border has dramatically increased. They also noted that negotiations between the governments of Russia and Mongolia on promoting collaboration along the border of the two countries will be of great importance to strengthening all areas of cooperation.
The sides agreed to actively work together to increase meat exports from Mongolia to Buryatia, and exporting pedigree cattle from Buryatia to Mongolia. The parties discussed improving infrastructure, especially roads and transportation, to develop more collaboration along the border, and emphasized that there are a lot of possibilities to develop tourism cooperation between Mongolia, Russia, and China.
During the forum, Minister of Food, Agriculture and Light Industry P.Sergelen and Russia’s Minister of Agriculture Aleksandr Nikolayevich Trachov signed a memorandum of cooperation on agriculture, and the Government of Russia agreed to provide Mongolia with non-refundable aid of 4.2 million doses of livestock vaccines under a Russian humanitarian assistance agreement. The sides also agreed to collaborate in building a meat processing factory in Mongolia that will export products from Mongolia to Russia.
The Government of Mongolia has also asked the Government of Russia to cooperate in developing the cashmere industry. Minister of Foreign Affairs Ts.Munkh-Orgil stated that both parties agreed to organize mutual visits of cultural representatives, to collaborate on creating documentaries produced by the two nations’ journalists and media outlets, to train Mongolian journalists in Russia, and to share their films.
Russian Minister of Communications and Mass Media Nikolai Anatolyevich Nikiforov highlighted that Russia has started a survey on constructing a fiber-optic communications network between Russia and China through Mongolia, and that Russia will collaborate with China in software, internet cooperation, and cyber security.
On June 2, Prime Minister J.Erdenebat met with Russia’s Deputy Prime Minister Arkady Vladimirovich Dvorkovich, to discuss multilateral cooperation between the two countries, including in energy, the environment, infrastructure, and agricultural cooperation. During the meeting, the two leaders confirmed that the two countries have the same stance on developing energy infrastructure under the Asia Super Grid Project, designed to establish an electrical power transmission network connecting Asia and Europe; the Russian initiative Asian Energy Super Ring, and energy infrastructure projects connecting Russia and China through Mongolia.
The sides agreed to launch an economic corridor between China, Russia, and Mongolia as a railway corridor. Dvorkovich said that Russia is interested in connecting the Kuragino-Kyzyl railway line with Mongolian railway. The sides also agreed to increase transit transportation services to improve the financial capacity of Ulaanbaatar Railway, a RussianMongolian joint venture. The sides discussed working together to carry out forest protection projects to protect areas threatened by natural and human causes.
As a part of the forum, PM J.Erdenebat also met with Indian Prime Minister Narendra Modi to talk about cooperation between the two countries. During their meeting, Prime Minister J.Erdenebat underlined that the cancer treatment equipment presented by Prime Minister Modi during his visit to Mongolia in 2015, has helped provide a number of Mongolians with medical care.
The Mongolian Prime Minister also noted that the Government of Mongolia plans to invest the one billion USD loan facility that Indian Prime Minister Narendra Modi promised during his visit to Mongolia in a railway megaproject and the construction of a petroleum processing factory. The PM said that his government hopes to devote India’s loan to developing infrastructure, so the Government of India needs to make changes to its regulations based on proposed changes to facility spending put forward by the Government of Mongolia.
PM J.Erdenebat highlighted that he hopes the Government of India will support financing that will help Mongolia’s economic growth. Trade turnover of 27 million USD took place in 2016, including 2.2 million USD in exports from Mongolia to India and 24.8 million USD in imports from India to Mongolia. Prime Minister Narendra Modi underlined that India is interested in collaborating with Mongolia in purchasing mining products from Mongolia, including coking coal, fluorite, uranium, and iron ore.