President holds meeting with Norway’s Prime Minister

2020-01-28 14:30:34

Ulaanbaatar /MONTSAME/ President of Mongolia Kh.Battulga, who is on working visit to the Kingdom of Norway, held a meeting with Ms. Erna Solberg, Prime Minister of Norway. Ms. Erna Solberg emphasized the country’s intent to expand bilateral relations further.

Expressing his confidence that bilateral cooperation would broaden in the future, President of Mongolia Kh.Battulga explained his visit has inseparable connection with the amendments made to the Constitution of Mongolia.  

“In particular, The 1992 Constitution of Mongolia states that natural resources in Mongolia shall belong exclusively to the people. Nevertheless, few families had become rich under the ownership of licenses and the gap between the rich and poor has increased. Therefore, to correct it, we made amendments to the Constitution and reflected that benefits from the subsoil wealth shall be collected to the sovereign wealth fund and be distributed equally and fairly. To carry out the article in the law, we have a necessity to partner with the Kingdom of Norway, which has the best wealth fund management in the world,” said the President.

President Kh.Battulga and Prime Minister of Norway Ms. Erna Solberg thoroughly exchanged views on wealth fund issues, features of the two countries and enforcing the Law on Wealth Fund and came to a decision to collaborate on it. The sides reached to an understanding to collaborate in ways such as sending experienced experts who took part in founding the Norway's Wealth Fund and studying young Mongolian researchers in Norway.

Furthermore, the sides talked over number of projects and programs targeted to increasing trade turnover between the two countries and agreed to make the discussed issues actual work by holding a consultative meeting between the Foreign Ministries of the two countries afterwards the visit.