India, Mongolia to enhance bilateral trade, energy cooperation

India and Mongolia today discussed economic cooperation in areas such as infrastructure development, energy, services and IT and agreed to explore possibility of launching direct air connectivity between New Delhi and the Mongolian capital.

External Affairs Minister Sushma Swaraj during a joint media briefing with Mongolian Foreign Minister D Tsogtbaatar after the 6th Session of the Indian-Mongolia Joint Committee on Cooperation here said the two countries agreed to explore ways to identify new areas of cooperation in all sectors of mutual interest and to enhance bilateral trade and investments.

Swaraj, the first Indian foreign minister to visit the resource-rich country in 42 years, said India sees Mongolia as a factor of stability in East Asia and believes that Mongolia's social and economic development is important for peace and prosperity in the region.

During the Indian-Mongolia Joint Committee on Cooperation, the two sides discussed pressing global challenges, particularly the scourge of terrorism and agreed to collaborate bilaterally and in international arena to thwart the designs of those who extend support to terrorist outfits.

The two sides also reviewed the progress in the ongoing collaborative projects, including the refinery project selected by the Government of Mongolia for implementation with the support of USD one billion Indian Line of Credit.

"We directed our officials to coordinate follow up action on each side for the expeditious implementation of these projects. Our strong political ties must be complemented by commensurate levels of trade, economy and investment," she said.

"Today, India has emerged as one of the fastest growing large economies in the world. With its rich natural resources and strong aspiration for development, Mongolia can be an important partner in India's growth story," she said.

Swaraj, who arrive here yesterday on a two-day visit, said collaboration for the ongoing refinery project is in recognition of this fact.

She said Mongolia is not only India's strategic partner but also a spiritual neighbour.

"We share long historical links. Mongolia is well known in India for the valour of her kings and her strong Buddhist heritage. India was among the first countries, outside the erstwhile Communist bloc, to establish diplomatic relations with Mongolia," she said.

Swaraj also called on Prime Minister of Mongolia U Khurelsukh and discussed cooperation in developmental cooperation, mining, capacity building, IT, films and other areas of bilateral cooperation.

During the joint media briefing with Mongolian Foreign Minister, Swaraj said in the six decades of the partnership between the two countries, the bilateral relations have grown from "strength to strength".

"This is reflected in our widening and deepening strategic partnership today, based on the common ideals of democracy and freedom, and enriched by mutual respect and trust."
"We also agreed that we should make all efforts to maintain and accelerate the momentum of our interaction in all areas."
Swaraj later called on M Enkhbold, Speaker of the Mongolian State Great Khural (Parliament) and discussed cooperation between the Parliaments of the two countries, which she said is an "important pillar of bilateral relationship."