Germany to mentor the Mongolian economy
Prime Minister S. Batbold declared Germany to be Mongolia's prime partner in Europe during German Chancellor Angela Merkel's visit to Mongolia.
The first historic visit by a German chancellor brought about a number of economic ties between Germany and Mongolia.
Batbold said the government of Mongolia wants to introduce common principles and standards of the European Union to Mongolia. He suggested opening an EU office in the capital as the first step towards building a relationship to do so. “There is plenty more potential for economic cooperation between our two countries to grow,” said the German chancellor. “I presented Germany as a partner that was keen to develop a durable and equitable long-term relationship.” Merkel, in Mongolia with a large business delegation, said the framework agreement would include rare earths and copper. The details of this agreement will undergo development in the following months. An array of agreements signed promised greater cooperation between Mongolia and Germany in the development of Mongolia’s economy, infrastructure, and mining sector. Minister of Mineral Resources and Energy D. Zorigt signed an intergovernmental agreement with German Ambassador Peter Shaller and German State Secretary of Economics Johen Hooman on cooperation in mining, industrial and technology sector. Other agreements were signed regarding the Tavan Tolgoi Eastern Tsankhi coal project to allow participation from BBM Operta Group, Siemens, and Deutsche Bank on the project. Another agreement promises cooperation between Sod Mongol Group and Ferrostaal, a German engineering company with great experience in oil and gas, on the Sainshand oil refinery. Sod Mongol is one of the largest distributors of refined oil products and jet fuel in Mongolia. “Mongolia is not interested in exporting raw commodities, but in producing and exporting final, processed value-added products,” Zorigt said. “Also it is interested in cooperating with and introducing German modern, environmentally friendly modern technology, equipment, know how, as well as coal-to-gas technologies.
Please note that this article has not been written, is not copyrighted and does not in any case represent the views or opinions of M.A.D. Investment Solutions or any of its affiliate individuals or companies. The article above is purely meant for information only to readers and does not constitute a legal or biding agreement in any way, shape or form. For contact and comments directly relating to the above article, please refer to the source as stated below.
Source : Business Council of Mongolia
The first historic visit by a German chancellor brought about a number of economic ties between Germany and Mongolia.
Batbold said the government of Mongolia wants to introduce common principles and standards of the European Union to Mongolia. He suggested opening an EU office in the capital as the first step towards building a relationship to do so. “There is plenty more potential for economic cooperation between our two countries to grow,” said the German chancellor. “I presented Germany as a partner that was keen to develop a durable and equitable long-term relationship.” Merkel, in Mongolia with a large business delegation, said the framework agreement would include rare earths and copper. The details of this agreement will undergo development in the following months. An array of agreements signed promised greater cooperation between Mongolia and Germany in the development of Mongolia’s economy, infrastructure, and mining sector. Minister of Mineral Resources and Energy D. Zorigt signed an intergovernmental agreement with German Ambassador Peter Shaller and German State Secretary of Economics Johen Hooman on cooperation in mining, industrial and technology sector. Other agreements were signed regarding the Tavan Tolgoi Eastern Tsankhi coal project to allow participation from BBM Operta Group, Siemens, and Deutsche Bank on the project. Another agreement promises cooperation between Sod Mongol Group and Ferrostaal, a German engineering company with great experience in oil and gas, on the Sainshand oil refinery. Sod Mongol is one of the largest distributors of refined oil products and jet fuel in Mongolia. “Mongolia is not interested in exporting raw commodities, but in producing and exporting final, processed value-added products,” Zorigt said. “Also it is interested in cooperating with and introducing German modern, environmentally friendly modern technology, equipment, know how, as well as coal-to-gas technologies.
Please note that this article has not been written, is not copyrighted and does not in any case represent the views or opinions of M.A.D. Investment Solutions or any of its affiliate individuals or companies. The article above is purely meant for information only to readers and does not constitute a legal or biding agreement in any way, shape or form. For contact and comments directly relating to the above article, please refer to the source as stated below.
Source : Business Council of Mongolia
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