Ulaanbaatar
FM Ts.Munkh-Orgil attends high-level exchange on landlocked developing countries
Politics
Ulaanbaatar /MONTSAME/ On May 17, Ts.Munkh-Orgil, Minister of Foreign Affairs of Mongolia took part in the High-level Exchange: Infrastructure and Sustainable Development in Asia-Pacific in Landlocked Developing countries (LLDCs) and Small Island Developing States (SIDs) held during the ESCAP's 73rd session in Bangkok, Thailand as a lead speaker. He was invited in the session by Shamshad Akhtar, Executive Secretary of United Nations Economic and Social Commission for Asia and the Pacific.
Agreeing to the fact that proper infrastructure planning and financing are essential for the regional development, the participants noted that it is important to create a favorable legal environment for investment, improve management system, support soft infrastructure, capacity building for employees, draw investment from private sector and establish infrastructure trust fund.
In his speech, Foreign Minister Ts.Munkh-Orgil congratulated on the 70th anniversary of the establishment of UNESCAP and informed that the Commission has contributed to the development of Mongolian economy. He further noted being landlocked imposes constraints to economic growth and business sector of Mongolia faces various challenges, such as tariff and non-tariff barriers and high cost of transportation.
Agreeing to the fact that proper infrastructure planning and financing are essential for the regional development, the participants noted that it is important to create a favorable legal environment for investment, improve management system, support soft infrastructure, capacity building for employees, draw investment from private sector and establish infrastructure trust fund.
In his speech, Foreign Minister Ts.Munkh-Orgil congratulated on the 70th anniversary of the establishment of UNESCAP and informed that the Commission has contributed to the development of Mongolian economy. He further noted being landlocked imposes constraints to economic growth and business sector of Mongolia faces various challenges, such as tariff and non-tariff barriers and high cost of transportation.
Minister Ts.Munkh-Orgil further affirmed that 'Belt and Road’ initiative as well as public and private partnership and official development assistances give favorable opportunities for small countries to develop their infrastructures. Also, he introduced about ongoing measures and actions being carried-out in the fields of infrastructure development, such as a trilateral program to establish an economic corridor between Mongolia, Russia and China and transit transportation coordination.
B.Oyundelger
