Prime Minister S.Batbold’s official visit to Russia began yesterday. It is expected to reach some significant decisions, over which detailed negotiations have been held. These include a review of joint ventures like the Erdenet factory and Mongolrostsetmet. The future of the Asgat silver deposit mine, under Mongolrostsetmet ownership, and taken to be held in pledge against Mongolia’s debt to Russia, would also be considered. The meeting of the managing council of the Erdenet factory will be held in Moscow during the visit.
Among other agreements Batbold will sign are one on Mongolia’s monetary liabilities, another on establishing the Dornod-Uran joint venture, one on mutual defense and allied military cooperation and the 2012 plan of regional and border cooperation.
The two sides will also discuss cooperation in trade, economics, infrastructure and investment. Bilateral trade turnover reached USD907 million in the first half of 2010. Observers are keenly watching the terms finally agreed on when setting up the joint uranium venture. Will it be a rehash of the old agreement or will there be new provisions to reflect changing times?