India, Mongolia to jointly combat terror, boost trade

India and Mongolia on Wednesday discussed issues related to bilateral trade, terrorism and setting up of joint refinery projects. External Affairs Minister Sushma Swaraj, who is in Ulaanbaatar, held bilateral discussions with her Mongolian counterpart Damdin Tsogtbaatar. They discussed about the possibility of launching direct air connectivity between New Delhi and Ulaanbaatar. They also agreed to cooperate bilaterally and in the international arena to thwart the designs of those who extend support to terrorists outfits. "They also held discussions for economic cooperation in areas including infrastructure development, energy, services and Information Technology," said a release issued by the Ministry of External Affairs (MEA).

Both the leaders headed 6th Session of the Indian-Mongolia Joint Committee on Cooperation. Swaraj said the two countries agreed to explore ways to identify new areas of cooperation in all sectors of mutual interest and to enhance bilateral trade and investments. The two sides also reviewed the progress in the ongoing collaborative projects, including the refinery project selected by the Government of Mongolia for implementation with the support of $1 billion Indian Line of Credit. "We directed our officials to coordinate follow up action on each side for the expeditious implementation of these projects. Our strong political ties must be complemented by commensurate levels of trade, economy and investment," she said.

"Today, India has emerged as one of the fastest growing large economies in the world. With its rich natural resources and strong aspiration for development, Mongolia can be an important partner in India's growth story," she said.

Swaraj also called on Prime Minister of Mongolia U Khurelsukh and discussed cooperation in developmental cooperation, mining, capacity building, IT, films and other areas of bilateral cooperation. Calling upon the Mongolian business community to "seize economic opportunities arising out of "India's growth", she said the two countries have agreed to remove institutional and logistical impediments to boost trade, tourism and people to people contacts. "We would encourage students from Mongolia to pursue studies in Indian art, music and culture which would further reinforce our cultural links," she said.

Swaraj later called on M Enkhbold, Speaker of the Mongolian State Great Khural (Parliament) and discussed cooperation between the Parliaments of the two countries, which she said is an "important pillar of bilateral relationship". She also met Mongolian Minister and Chief of Cabinet Secretariat Gombojav Zandanshatar and discussed measures to expand cooperation across several sectors.