Japanese Prime Minister Shinzo Abe and Mongolian President Tsakhiagiin Elbegdorj agreed Friday to boost cooperation in promoting peace and stability in East Asia, amid threats from an assertive China and North Korea”s nuclear and missile development.

During a 20-minute telephone talk, Abe also called for a “multilayered and strategic” dialogue to enhance bilateral ties with Mongolia, the Japanese government said.

On the economic front, Elbegdorj praised Abe”s economic policies, saying they have had “good effects” on the global economy, according to the government.

The “Abenomics” policy mix consists of bold monetary easing by the Bank of Japan, massive fiscal stimulus and a growth strategy.