Medvedev said he believes the Russian-Mongolian trade volume should not rely only on petroleum products, calling on diversification of bilateral trade. “We need new powerful projects such as nuclear projects or Tavan-Tolgoi (coal deposit), which will promote bilateral cooperation,” Medvedev said. The two sides also discussed progress of several joint projects.
After the meeting, the presidents also attended the signing ceremony of four other documents on bilateral cooperation and ties. These covered Russian investment in some large projects, cooperation in uranium exploration, exploitation and processing in the Dornod region, developing infrastructure of Mongolian Railway, modernization and financially strengthening of Ulaanbaatar Railway, and generally stronger cooperation in the railway sector.
The Russian President said he would ask exporters in his country to devise ways in which regular supply of petroleum products to Mongolia could be assured.
The Presidents talked about cooperation in the defense sector and decided to improve the working conditions at border points. They also reviewed matters of regional and international concern. Russia expressed its appreciation of Mongolia’s policy of being a nuclear-free country. Elbegdorj invited Medvedev to visit Mongolia and the Russian President took the invitation.