Mongolian president expresses expectations for Japanese companies

TOKYO --President of Mongolia Tsakhia Elbegdorj, currently visiting Japan, made a speech in Tokyo on November 16 and expressed his hope for the participation of Japanese companies in the exploration, processing and shipping of rich deposits of uranium and rare earth elements in Mongolia.

Speaking at a forum hosted by a group of organizations including Japan External Trade Organization (JETRO), President Elbegdorj said that processing mineral resources in Mongolia and exporting finished products is a promising business for the future and that Mongolia is "capable of becoming an important hub in Eurasia."

The president further expressed his high expectations for the technologies of Japanese companies such as integrated coal gasification combined cycle (IGCC) power generation technology. In the area of Japan's official development assistance (ODA) to Mongolia, the president appealed for "more assistance in the fields Japanese companies are really interested in."

Prior to the speech, the president met with Tadahiro Matsushita, Senior Vice Minister of Economy, Trade and Industry, and confirmed the policy of strengthening economic cooperation between the two countries including cooperation in connection with rare earth elements and other mineral resources. The president spoke November 16 at the University of Tokyo, too, and drew attention to the need to strengthen cooperation in environmental projects such as renewable energy development.