India and Mongolia on Wednesday discussed economic cooperation in areas such as infrastructure development, energy, services and IT and agreed to explore the possibility of launching direct air connectivity between New Delhi and the Mongolian capital Ulaanbaatar.&nbsp

External Affairs Minister Sushma Swaraj during a joint media briefing with Mongolian Foreign Minister D Tsogtbaatar after the 6th Session of the Indian-Mongolia Joint Committee on Cooperation here 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.&nbsp

Swaraj, the first Indian foreign minister to visit the resource-rich country in 42 years, said India sees Mongolia as a factor of stability in East Asia and believes that Mongolia's social and economic development is important for peace and prosperity in the region.

During the Indian-Mongolia Joint Committee on Cooperation, the two sides discussed pressing global challenges, particularly the scourge of terrorism and agreed to collaborate bilaterally and in international arena to thwart the designs of those who extend support to terrorist outfits.&nbsp

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 USD one billion Indian Line of Credit.&nbsp

"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.&nbsp

"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.&nbsp

Swaraj, who arrived here yesterday on a two-day visit, said collaboration for the ongoing refinery project is in recognition of this fact.&nbsp 
She said Mongolia is not only India's strategic partner but also a spiritual neighbour. 
"We share long historical links. Mongolia is well known in India for the valour of her kings and her strong Buddhist heritage. India was among the first countries, outside the erstwhile Communist bloc, to establish diplomatic relations with Mongolia," she said. 
Swaraj said in the six decades of the partnership between the two countries, the bilateral relations have grown from "strength to strength".&nbsp

Swaraj will participate in a special event to commemorate the birth centenary of the Venerable 19th Kushok Bakula Rinpoche, who was not only an eminent Buddhist leader but also the longest serving Ambassador of India to Mongolia.&nbsp

The event will mark his contribution to the promotion of Buddhism in Mongolia and to the deepening of civilizational and spiritual bonds between the two countries.

She said India and Mongolia share a bond of peace through Buddhism.&nbsp

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EAM <a href="https://twitter.com/SushmaSwaraj?ref_src=twsrc%5Etfw">@SushmaSwaraj</a> welcomed by the Foreign Minister of Mongolia Damdin Tsogtbaatar ahead of the 6th India-Mongolia Joint Committee meeting. Our two countries not only share a strong historical and cultural link, but also are strategic partners in the contemporary context. <a href="https://t.co/YRV6HQuhOG">pic.twitter.com/YRV6HQuhOG</a>
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"As we tread the path of developing our partnership I am sure, the teachings of Lord Buddha will continue to guide us," she said.&nbsp

India and Mongolia have close cooperation in trade and economy, science, health, agriculture, culture, education, communication and tourism. The two countries are also working closely to ensure security and curbing international crimes and terrorism.&nbsp

The total trade between the two countries amounted to USD 25.6 million in 2016.&nbsp

Swaraj, the first Indian foreign minister to visit the resource-rich country in 42 years, said India sees Mongolia as a factor of stability in East Asia and believes that Mongolia's social and economic development is important for peace and prosperity in the region.

India and Mongolia on Wednesday discussed economic cooperation in areas such as infrastructure development, energy, services and IT and agreed to explore the possibility of launching direct air connectivity between New Delhi and the Mongolian capital Ulaanbaatar. External Affairs Minister Sushma Swaraj during a joint media briefing with Mongolian Foreign Minister D Tsogtbaatar after the 6th Session of the Indian-Mongolia Joint Committee on Cooperation here 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. Swaraj, the first Indian foreign minister to visit the resource-rich country in 42 years, said India sees Mongolia as a factor of stability in East Asia and believes that Mongolia's social and economic development is important for peace and prosperity in the region. During the Indian-Mongolia Joint Committee on Cooperation, the two sides discussed pressing global challenges, particularly the scourge of terrorism and agreed to collaborate bilaterally and in international arena to thwart the designs of those who extend support to terrorist outfits. 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 USD one 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, who arrived here yesterday on a two-day visit, said collaboration for the ongoing refinery project is in recognition of this fact. She said Mongolia is not only India's strategic partner but also a spiritual neighbour. "We share long historical links. Mongolia is well known in India for the valour of her kings and her strong Buddhist heritage. India was among the first countries, outside the erstwhile Communist bloc, to establish diplomatic relations with Mongolia," she said. Swaraj said in the six decades of the partnership between the two countries, the bilateral relations have grown from "strength to strength". Swaraj will participate in a special event to commemorate the birth centenary of the Venerable 19th Kushok Bakula Rinpoche, who was not only an eminent Buddhist leader but also the longest serving Ambassador of India to Mongolia. The event will mark his contribution to the promotion of Buddhism in Mongolia and to the deepening of civilizational and spiritual bonds between the two countries. She said India and Mongolia share a bond of peace through Buddhism. EAM @SushmaSwaraj welcomed by the Foreign Minister of Mongolia Damdin Tsogtbaatar ahead of the 6th India-Mongolia Joint Committee meeting. Our two countries not only share a strong historical and cultural link, but also are strategic partners in the contemporary context. pic.twitter.com/YRV6HQuhOG — Raveesh Kumar (@MEAIndia) April 25, 2018 × "As we tread the path of developing our partnership I am sure, the teachings of Lord Buddha will continue to guide us," she said. India and Mongolia have close cooperation in trade and economy, science, health, agriculture, culture, education, communication and tourism. The two countries are also working closely to ensure security and curbing international crimes and terrorism. The total trade between the two countries amounted to USD 25.6 million in 2016.

India, Mongolia to enhance bilateral trade, investments

Much to China&rsquo;s displeasure, Mongolia is all set to get its first oil refinery with India&#39;s help.

India offered a helping hand to the land-locked country in order to limit their dependence on China for its energy needs, a move which has upset President Xi&#39;s administration.

India provided the country with $700 million loan for the construction of the refinery and around $264 million for oil pipelines.&nbsp;

In 2015, during Prime Minister Narendra Modi&rsquo;s visit, India had announced a $1 billion credit line to finance infrastructure projects in the country.

As per media reports, the refinery will have the capacity to process 1.5 million metric tons of oil per year and will annually produce 560,000 tons of gasoline, 670,000 tons of diesel fuel and 107,000 tons of liquefied gas.&nbsp;

The refinery is expected to boost Mongolia&#39;s gross domestic product (GDP) by approx 10 per cent.

Mongolia&rsquo;s relations with China has&nbsp;experienced some turbulence after Dalai Lama paid a visit to the country in 2015.

In response, China imposed fees on imports from Mongolia and started charging additional transit costs to force the country into submission.

Mongolia has been warming up to India as part of its effort to limit Chinese influence and its dependence on Beijing.

The refinery will boost Mongolia's gross domestic product (GDP) by approx 10 per cent

Much to China’s displeasure, Mongolia is all set to get its first oil refinery with India's help. India offered a helping hand to the land-locked country in order to limit their dependence on China for its energy needs, a move which has upset President Xi's administration. India provided the country with $700 million loan for the construction of the refinery and around $264 million for oil pipelines. In 2015, during Prime Minister Narendra Modi’s visit, India had announced a $1 billion credit line to finance infrastructure projects in the country. As per media reports, the refinery will have the capacity to process 1.5 million metric tons of oil per year and will annually produce 560,000 tons of gasoline, 670,000 tons of diesel fuel and 107,000 tons of liquefied gas. The refinery is expected to boost Mongolia's gross domestic product (GDP) by approx 10 per cent. Mongolia’s relations with China has experienced some turbulence after Dalai Lama paid a visit to the country in 2015. In response, China imposed fees on imports from Mongolia and started charging additional transit costs to force the country into submission. Mongolia has been warming up to India as part of its effort to limit Chinese influence and its dependence on Beijing.

Watch: Mongolia to get first oil refinery with India's help, China upset

Vice President Hamid Ansari today left for Mongolia leading an Indian delegation to the 11th Asia-Europe Meeting (ASEM) Summit.&nbsp;The two-day ASEM Summit will be held in Ulaanbaatar, capital of Mongolia from tomorrow. 
 
The theme for the Summit is &quot;20 Years of ASEM: Partnership for the Future through Connectivity&quot;.&nbsp;At the Summit, India&#39;s efforts would be inclined towards more successful outcomes and the building of a resilient and multidimensional web of interconnectivity between the two continents - Asia and Europe, officials said ahead of the meeting. 
 
ASEM comprises of 53 entities - 51 countries from Asia and Europe and two regional bodies - the European Union and the ASEAN Secretariat.&nbsp;It represents around 62.3 per cent of the world&#39;s population, 57.2 per cent of the global GDP and almost 60 per cent of the world&#39;s trade. 
 
ASEM is a unique platform that serves to bridge the two continents of Asia and Europe for constructive partnership and exchange, under the three key pillars of political dialogue, economic collaboration and socio-cultural exchanges, the Ministry of External Affairs said in a statement. 
 
The 11th ASEM Summit assumes special importance in view of the fact, that 2016 marks the 20th anniversary of the dialogue forum, officials said.&nbsp;Since the Summit is the first ever international event of such stature that Mongolia is hosting, the participation of Vice President Ansari signifies the importance India attaches to its strategic partnership with Mongolia, they said. 
 
Ansari will also hold bilateral meetings with a few other participating leaders on the sidelines of the Summit. 
 
(PTI)

India signals the importance it attaches to its partnership with host Mongolia by sending its VP

Vice President Hamid Ansari today left for Mongolia leading an Indian delegation to the 11th Asia-Europe Meeting (ASEM) Summit. The two-day ASEM Summit will be held in Ulaanbaatar, capital of Mongolia from tomorrow. The theme for the Summit is "20 Years of ASEM: Partnership for the Future through Connectivity". At the Summit, India's efforts would be inclined towards more successful outcomes and the building of a resilient and multidimensional web of interconnectivity between the two continents - Asia and Europe, officials said ahead of the meeting. ASEM comprises of 53 entities - 51 countries from Asia and Europe and two regional bodies - the European Union and the ASEAN Secretariat. It represents around 62.3 per cent of the world's population, 57.2 per cent of the global GDP and almost 60 per cent of the world's trade. ASEM is a unique platform that serves to bridge the two continents of Asia and Europe for constructive partnership and exchange, under the three key pillars of political dialogue, economic collaboration and socio-cultural exchanges, the Ministry of External Affairs said in a statement. The 11th ASEM Summit assumes special importance in view of the fact, that 2016 marks the 20th anniversary of the dialogue forum, officials said. Since the Summit is the first ever international event of such stature that Mongolia is hosting, the participation of Vice President Ansari signifies the importance India attaches to its strategic partnership with Mongolia, they said. Ansari will also hold bilateral meetings with a few other participating leaders on the sidelines of the Summit. (PTI)

Indian Vice President heads to Mongolia for 11th Asia-Europe Meeting Summit

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