Finance
On Tuesday, Prime Minister Narendra Modi met with his Mongolian counterpart, Khurelsukh Ukhnaa, in New Delhi. During a joint news conference, PM Modi welcomed President Ukhnaa to India and celebrated 70 years of bilateral relations between the two countries.
“I am happy to welcome President Khurelsukh Ukhnaa and his delegates to India. After six years, a Mongolian president is visiting India. This visit is special as we celebrate 10 years of our strategic partnership and 70 years of bilateral relations. Today, we began the meeting by planting a tree under ‘Ek Ped Maa Ke Naam’,” PM Modi said.
Strengthening bilateral ties and development cooperation
PM Modi praised the strong and enduring relationship between India and Mongolia. He also highlighted several key development projects underway in Mongolia with India’s cooperation.
“India is a determined and trustworthy partner in Mongolia’s development. The oil refinery project being built in Mongolia through a line of credit of $1.7 billion is India’s largest such project. We have also strengthened our relations in skill development and are giving new hope to the youth of Mongolia through our innovation missions,” he said.
Exploring new trade and transport gateways
Mongolian President Khurelsukh Ukhnaa stated that all parties agree that new transport and logistical gateways should be developed to facilitate trade between the two countries. He stated that various Memorandums of Understanding were inked between the two countries in the fields of geology and minerals.
“I am pleased to announce that both sides share similar views on the significance of exploring new transport and logistics gateways to enhance our trade and economic cooperation, and on examining the feasibility of regular direct flights between our two countries. In this regard, a Mongolian air carrier is preparing to offer charter flights to New Delhi and Amritsar starting later this year. We also signed MoUs in the fields of geology and minerals. Mongolia highly values India’s significant contribution to the global transition in the energy sector. Taking this opportunity, I would like to mention our consistent position to join the International Solar Alliance – an initiative taken by India,” he said.
He also expressed gratitude towards PM Modi and Indian companies for setting up the oil refinery in Mongolia.
“The construction of the oil refinery is of strategic importance for Mongolia and crucial to secure our energy needs. It is a flagship symbol of India-Mongolia relations and will contribute to our country’s prosperity. I express my gratitude to the Prime Minister and the companies of India for this,” he said.
