Prime Minister N.Altankhuyag has finished his official visit to Japan that continued over September 11th to September 14th.

During the visit the bilateral relations between Mongolia and Japan were developed into a strategic partnership. The two countries determined the next-five year bilateral cooperation between Mongolia and Japan.

A memorandum of understanding between the Development Bank of Mongolia and the Japan Bank for International Cooperation was signed by their representatives.

According to the memorandum of understanding on bilateral cooperation for the allocation of SDP to Mongolia by the Japan Bank for International Cooperation a guarantee for a Mongolian government bond was defined.

The Japan Bank for International Cooperation is the institution that promotes economic cooperation between Japan and overseas countries by providing resources to foreign investments and by fostering international commerce supporting Japanese exports and imports, and the country”s activities overseas.

Last June Mongolia signed an agreement to open lines of credit with Japan Bank for International Cooperation and negotiated to provide loans to companies that want to export equipment to Mongolia.

The two banks also plan to sell a yen-denominated as much as 600 million US dollar worth of Samurai bonds this year according to the bilateral cooperation.

The Governments of the two countries negotiated to cooperate on large-scale investment projects during a visit by Japanese Prime Minister Shinzo Abe in Mongolia last March.

The cooperation between the Development Bank of Mongolia and the Japan Bank for International Cooperation will lead to a new way to solve finance issues that will be required to launch the projects.

Prime Minister N.Altankhuyag arrived back in Mongolia after completing the successful negotiations with Japan on Saturday September 14th.