Ulaanbaatar /MONTSAME/ Prime Minister J.Erdenebat participated in the St.Petersburg International Economic Forum at the invitation of President of the Russian Federation V.V.Putin on 1-3 June in Saint Peterburg, Russia.

At the opening meeting of the 21^st forum held under the theme ‘In search of new balance in the global economy’, Prime Minister J.Erdenebat delivered a speech, the first time that Mongolia expressed its position at the forum. He announced that the door of Mongolia is open to investors, in his speech addressed over 6000 delegates from 66 countries. Prmie Ministers of Mongolia previously used to attend the forum as a guest.

PM J.Erdenebat also noted the need of investors in the infrastructure sector to the establishment of economic corridor connecting Mongolia, Russia and China, sharing the new information for partner-seeking investors. On the sidelines of his participation in the forum, PM J.Erdenebat held meetings with Prime Ministers of India and Serbia, Deputy Prime Minister of Russia, some Ministers, Mayor of Moscow and heads of some bordering states and regions, talking about bilateral relations and cooperation.

Some resolved issues during the meetings are as follow:

1. Prime Minister J.Erdenebat made a speech for the first time at the St.Petersburg International Economic Forum, announcing that Mongolia is open to investors. He said “- The goal to establish an economic corridor connecting  the three countries by coordinating the initiatives of ‘Development path’ of Mongolia, ‘Belt and Road’ of China and Eurasian Economic Union progress will not be restricted within the three countries. Investment and active participation of the world leading economies with cutting-edge technologies are greatly required for the infrastructure to be established in our country within this framework and I hope you will take it into your consideration”.

2. The official meetings confirmed that relations and cooperation of Mongolia and Russia have reached a new stage.

3. The parties agreed to start the implementation of “The establishment of Economic Corridor” trilateral program of Mongolia, Russia and China, with railway corridor. Mongolia gives priority to the establishment of western and eastern railway corridor and intends to start cross-border railway construction in routes Kuragino-Kyzyl-Tsagaantolgoi-Artssuuri-Ovoot-Erdenet.

4. A historic resolution was made during the meeting between PM J.Erdenebat and Deputy Prime Minister Arkady Vladimirovich Dvorkovich on raising annual freight turnover of “UB Railway” joint venture by 30 million tons with an aim to support to the company's activities and enhancement of its financial capacity.  The decision is expected to bring intensive transformation in our railway history.

5. During the meeting between PM J.Erdenebat and PM of India Narendra Modi, the parties agreed to change condition of spending of soft loan of USD1 billion and the loan will be used for the establishment of processing factories.

6. A bilateral joint working group agreed to be established in the nearest future to implement economically beneficial projects that ensure reliable energy supply of Mongolia  (Eg and Shuren Hydro Power Plants). The parties reaffirmed their unanimous positions in favor of energy infrastructure development, connecting Russia and China passing through Mongolian territory, coordinating international initiative ”The Asia Super Grid” and Russian initiative “Asian Energy Ring”.

7. The Ministry of Food, Agriculture and Light Industry of Mongolia P.Sergelen and Agricultural Minister of Russia A.N.Tkachev signed an agreement on supply of 4 million doses of vaccines to Mongolia. The second stage of “Making animals of Mongolia healthy” program will be implemented with Russian assistance. Within this framework, vaccines for 7 million animals worth of RUB7 billion will be supplied as humanitarian aid, according to decision by Russian President V.V.Putin. The supply will be made within this June.

8. A loan of USD10 million with an annual interest rate of 2 per cent will be granted for the agriculture development of Mongolia and equipment will be supplied within this month.

9. Mongolian and Russian invested meat factory will be established. Moreover, due attention will be paid to export of Mongolian animal meat to Russia and Europe in collaboration with Russia and Serbia.

10. Facilities and equipment of the 'Fourth Combined Thermal Power Plant' will be completely renovated as a result of the establishment of cooperation document between the 'Fourth Combined Thermal Power Plant' state-owned company of Mongolia and Urals Turbine Plant of Russia. The Fourth Thermal Plant supplies 70 per cent of heat energy of Ulaanbaatar, however, its turbines are needed to be renovated as they have been used for over 30 years.

11. The parties agreed to collaborate in carrying out a study on establishing a fiber optic network to the People’s Republic of China through the territory of Mongolia and Russia and to cooperate in ensuring cyber safety.

12.An agreement on cooperation in public communications and mass media was established, opening possibilities to exchange journalists, train Mongolian journalists in Russia, create documentaries and broadcast them mutually in the two countries.

 B.Ooluun