We accord a particular importance to our relations and Mongolia considers India as her “Third neighbor”. We both are peace loving nations, free from any military alliances are constructively collaborating within the framework of United Nations, Non-aligned Movement, World Trade Organization, Shanghai Cooperation Organization and UNFCCC in order to avoid of conflicts and facilitate understanding and cooperation tin the interest of our two nations and to the good of universal well-being.

I believe that Mongolia could be such a place for Indi’s business community who are exploring new markets their products and services. Mongolia ranks as one of the richest countries in Asia as well as in the world in terms of variety and value of its mineral resources. More than 8000 deposits of 440 different minerals including copper, gold, silver, uranium, flourspar, zinc, phosphate, iron ore, thermal and coking coal are discovered, of which around 600 deposits are being exploited. Mongolia currently offers a range of tax concessions for export-oriented industries and priority sectors of the economy. Foreign investment is encouraged in the following priority sectors: