Friday, June 6, 2014

Mongolia-UAE economic relations taken to a new stage

Foreign Affairs Minister of the United Arab Emirates (UAE) Sheikh Abdullah bin Zayed bin Sultan Al Nahyan conducted a two-day official visit to Mongolia on June 3 and 4, upon the invitation of Foreign Affairs Minister of Mongolia L.Bold.

According to the Foreign Affairs Ministry, the Sheikh called on the President and Prime Minister of Mongolia and held bilateral talks with his Mongolian counterparts. During the meetings the sides discussed bilateral and economic relations between Mongolia and the UAE.

Within the frames of his visit, Abdullah bin Zayed bin Sultan Al Nahyan called on President Ts.Elbegdorj and reviewed the relations and cooperation between the two countries in recent years. Presidents of Mongolia paid official visits to the UAE in 2001 and 2007, and ministers of the two countries have conducted reciprocal working visits, making great contributions to the relations and collaboration between the two countries.

President Elbegdorj and the Sheikh shared views on opportunities for continued cooperation and expanded economic and trade relations. Concluding the meeting, President Ts.Elbegdorj conveyed warm greetings to the President of the UAE, Emir Sheikh Khalifa bin Zayed Al Nahyan.

The Foreign Minister also met his Mongolian counterpart, L.Bold to hold official talks. At the talks the sides agreed on organizing permanent political talks and discussions, developing bilateral economic relations, strengthening relations in education and culture, appointing an inter-parliamentary commission, and studying the possibility of launching a direct flight between Mongolia and the UAE. In addition, they reached a decision to open a UAE embassy in Ulaanbaatar within the next two years.

The UAE is considered one of the most influential countries in terms of its population, territory and economic power. This visit by a high ranking official from the UAE boosted the two country’s relations, bringing bilateral economic relations to a new level.

The Government of the UAE and Abu Dhabi Fund for Development granted a soft loan to the Mongolian project to build a Taishir hydroelectric plant. The UAE has expressed that it is willing to cooperate with the financing of large Mongolian projects from the Abu Dhabi Fund for Development.

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