Expansion of Mongolia-ROK relations and cooperation discussed

2022-10-26 18:39:33

Ulaanbaatar /MONTSAME/. Chairman of the State Great Hural of Mongolia G. Zandanshatar is paying a working visit to the Republic of Korea on October 25-30.

This is the first visit from Mongolia in eight years at the level of the State Hural Chairman.

Within the framework of his visit, the State Great Hural Chairman had a meeting with Speaker of the National Assembly of the Republic of Korea Kim Jin-pyo on October 25, exchanging views on the expansion of bilateral relations and cooperation.

At the outset of the meeting, the State Great Hural Chairman said, “In the past 32 years, relations and cooperation between Mongolia and the Republic of Korea have advanced quickly and achieved the level of Strategic Partnership. The ROK has consistently backed Mongolia since its democratic transition. We are keen to intensify cooperation in order to improve parliamentary democracy and learn from the best practices of the National Assembly based on our shared values of democracy, human rights, freedom, and a free market economy”.

He also mentioned that Mongolia and ROK are stepping up their cooperation in the areas of the environment and green development, and he emphasized how crucial it is for both countries to support investments in and financing for green projects as well as to accelerate development based on the green economy.

In addition, State Great Hural Chairman G. Zandanshatar reiterated the invitation for Speaker Kim Jin-pyo's to visit Mongolia and expressed his desire to intensify and broaden the cooperation between the parliamentary friendship groups and the secretariat.

He emphasized the crucial role that parliaments and parliamentary friendship groups play in fostering a stable legal framework and enriching bilateral relations with economic content. In addition, he emphasized the value of establishing an "Economic Partnership Agreement," ensuring investment guarantees, and fortifying ties between the people and enterprises of the two countries.

It was noted during their meeting that it is possible to elevate economic ties to a new level by leveraging South Korea’s cutting-edge technology, innovation, and industrial development and Mongolia’s abundant natural resources. In this regard, support was requested for the establishment of a research center for rare earth elements, which was agreed upon during the ROK Foreign Minister’s visit to Mongolia in August.

In order to enhance economic cooperation between Mongolia and the ROK, attract more investment, and create a supportive legal environment, Chairman of the State Great Hural G. Zandanshatar pledged to intensify efforts at the parliamentary level to renew the “Agreement on the Mutual Promotion and Protection of Investments” and establish an “Economic Partnership Agreement”.

The parties at the meeting talked about and shared their views on the issue of widening their cooperation in the fields of history, culture, science, technology, tourism, and mining.