In next 15 to 20 years I think Indian companies will have firm foothold in Mongolia and their products will become in demand at surrounding markets.Mongolia and Indian joint secondary school in Mongolia would train scores of youth those would play a role of bridge between our two countries. ITC and virtual space might deminish physical hindrance for our trade and economic exchanges.

Presently Mongolia exports crude oil and import petroluem products.However, through our bilateral colloboration we would be able to build up oil refinery that would provide Mongolia and the region with a good quality of products.

During his visit to Mongolia in May 2015, Indian Prime Minister Mr. Narendra Modi announced a USD 1 billion credit line for developing infrastructure in Mongolia. What are the major areas where this credit will be utilized?

Shri Narendra Modi, Honorable Prime Minister of India during his visit to Mongolia May, 2015 presented samples of Banyan tree to the main Buddhist monastery that was deeply appreciated as a vivid illustration of our common spiritual bonds and close affinity.

We Mongolians respect India as a sacred land of Lord Buddha and source of wisdom and knowledge. Ancient travellers used to note that the Mongolian monks were studying in Nalanda University. This spiritual ties are basis of our close cooperation. I am pleased that the Government of India has announced its readiness to accept the Mongolian youths to its universities. Mongolia and India have contributed a wide array of arts, literature, poetry as well as research works to the oriental culture which are worth being introduced to our young generation.

India supported Mongolia’s transformation for political democracy and market economy of 1990s from their very beginning.The Parliament of India along with fellow Asian legislative bodies made its valuable contributions in drafting our first democratic Constitution.

The Government of India rendered assistance to Mongolia in training our national personnel, promoting SME under its ITEC program our professionals on short and long term trainings since 1987 and our experts are studying in the India.

With Line of Credits offered by India, gigantic projects contemplated by the Mongolian Government for the coming years offer a promising perspectives for our bilateral economic and trade interactions.