June 11, 2018
S P O N S O R 

President Kh. Battulga: Mongolia wants to advance its status within the SCO


President Kh. Battulga attended the Shanghai Cooperation Organization's (SCO) 18th summit in Qingdao, China, from June 9 through 10. The President held bilateral talks with state leaders on the sidelines of the summit. During a meeting with President of the Russian Federation Vladimir Putin, President Kh. Battulga proposed upgrading the current infrastructure of Ulaanbaatar Railway. President Vladimir Putin expressed support for Mongolia’s proposition to construct natural gas and petroleum pipelines from Russia to China across Mongolia’s territory. On June 10, President Kh. Battulga attended the extended session of the SCO summit, in which member countries and observer countries of the SCO and representatives of international organizations participated. During the session, President Kh. Battulga stated, “Mongolia is aiming to strengthen economic cooperation with member countries of the SCO, especially in electricity, infrastructure, transit transport, mining and agriculture. Humanitarian collaboration is also one of our priorities. With these objectives, Mongolia has started studying ways to advance our status within the SCO.”​  

Keywords: Shanghai Cooperation Organization, multilateral relations   National Post /page 2/

Prime Minister meets the IMF’s Deputy Managing Director


On June 8, Prime Minister U. Khurelsukh received Deputy Managing Director of the International Monetary Fund Mitsuhiro Furusawa. At the beginning of the meeting, the Prime Minister noted that the extended fund facility (EFF)  program has brought about positive changes and that Mongolia’s economy has been growing at a stable rate. He highlighted that the salaries of civil servants hasn’t been increased in the last three years and that it is necessary to consider a pay raise, particularly for those working in public services. He proposed that Cabinet work with the IMF to determine how to implement a salary increase. Deputy Managing Partner Mitsuhiro Furusawa stated  that Mongolia should avoid potential risks and intensify the EFF program’s implementation, as Mongolia is dependent on raw materials export and global market price fluctuation. He stated, “The Prime Minister’s leadership and policy consistency will contribute substantially to the implementation of the EFF program and realization of positive results.”​

Keywords: International Monetary Foundation, EFF, Cabinet   The Official Gazette /page 2/


Five Mongolian and Russian banks to cooperate on future projects


During Mongolia-Russia Initiative 2018, banking sector representatives from the two countries signed cooperation agreements and memorandums of understanding (MoUs). The Russian Agency for Export Credit and Investment Insurance (EXIAR) signed MoUs with Golomt Bank and Khan Bank. The International Bank for Economic Cooperation signed multilateral cooperation agreements with Golomt Bank and Trade and Development Bank (TDB). According to TDB, the agreement will present opportunities to finance joint projects and programs that would support economic and trade relations. Representatives from nine banks in Russia participated in the bilateral banking sector meeting.​

Keywords: Mongolia-Russia Initiative 2018, financing, trade   The Official Gazette /page 11/

online story  

Prime Minister of India meets with the President of Mongolia


On June 10, Prime Minister of India Narendra Modi met with President of Mongolia Kh. Battulga during the Shanghai Cooperation Organization (SCO) summit in Qingdao, China. This was the first time for India to attend the SCO summit since being admitted as the newest member state. President Kh. Battulga expressed his willingness to strengthen cooperation between the two countries. Both sides agreed that citizen  relations are critical to developing bilateral ties. At the end of the meeting, Prime Minister Modi invited President Battulga to pay a visit to India.​    

Keywords: bilateral relations, Shanghai Cooperation Organization

Facebook Twitter LinkedIn Website

This email was sent to <<Email Address>>
why did I get this?    unsubscribe from this list    update subscription preferences
The American Chamber of Commerce in Mongolia · 8F Naiman Zovkhis Building 21 Seoul Street · Ulaanbaatar, 01 14251 · Mongolia