Turkey and Mongolia signed a cooperation agreement on oil, natural gas & mineral resources on Wednesday.
Turkish Energy & Natural Resources Minister Taner Yildiz and Mongolian Minerals & Energy Minister Dashdorj Zorigt signed the agreement on behalf of their countries during a ceremony held on the sidelines of the 14th Eurasia Economy Summit in Istanbul.
Speaking at the ceremony, Yildiz said the agreement envisaged the establishment of a technical delegation that would focus on mining and oil exploration activities.
Pointing to Mongolia's 5th position in the world with its coalfields, Yildiz said the two countries had the opportunity to cooperate in numerous areas.
Mongolian Minister Zorigt said in his part that Mongolia particularly had a great potential concerning energy raw materials.
The minister said there were currently Turkish investors doing business in Mongolia and other major Turkish investors were invited to take part in energy and infrastructure projects in his country.
Zorigt also said Mongolia accepted Turkey as a key partner, adding that today's agreement would provide the two countries with various cooperation opportunities on gas, oil, mines and geology researches.