REMARKS BY PRESIDENT KHALTMAAGIIN BATTULGA AT THE MONGOLIA-INDIA BUSINESS MEETING
“Distinguished guests, friends, and business leaders,
Ladies and gentlemen,
It is my esteemed pleasure to visit India – our longstanding, friendly “spiritual neighbor”, and welcome all the businesspeople attending the Mongolia-India Business Meeting.
India is our significant political and economic “third neighbor”. Four years have passed since our relations reached the level of Strategic Partnership. I am pleased to highlight that my visit to India provides the possibilities to further broadening and strengthening of bilateral relations in all sectors, including further deepening of trade and economic cooperation. Mongolia is keen to further broaden and deepen our economic ties with the 7th largest economy in the world.
Ladies and gentlemen,
The role of businesses, your joint efforts and cooperation are crucially important for expanding trade and economic relations between the two countries. I am pleased to see that the businesspeople of our two countries have established and expanded their cooperation in processing, agriculture, information technology, healthcare, traditional medicine, mining, energy and other fields.
During the visit of Prime Minister Modi to Mongolia, India extended $1 billion soft loan credit line, thus commencing the construction of the oil refinery. At this time, our side is concluding the construction of roads, railways and power lines. Therefore, this project provides many new opportunities for Mongolian and Indian entrepreneurs.
India has rich experience in the production of information technology and software industry. Given the fact that the population in both Mongolia and India is becoming younger, and the world is becoming more digitalized, cooperation in the field of information technology also represents another potential area of cooperation.
Aiming to create conducive and favourable legal basis to promote bilateral trade and economic environment, both sides are discussing updating of an Investment Agreement and amendments to an Agreement on Double Taxation signed in 1994. I believe that these issues will be finalized soon.
Distinguished business leaders,
There is enormous potential in the economic and trade cooperation of our two countries that cannot be sought elsewhere. Therefore, our efforts are important in identifying and pursuing this potential. On the other side, we do understand that there are certain difficulties and challenges in developing economic and trade cooperation between our two countries. Nonetheless, there is a way if you want, while there is always an excuse if you don’t want. Let us move forward together for prosperity of Mongolia and India, fully utilizing the potentials in bilateral cooperation.
I wish you a successful meeting.
Thank you for your attention.”
