The 18^th Mongolian-Russian Intergovernmental Commission Meeting on Trade, Economy, Science, and Technical cooperation was held in Ulaanbaatar city.

This regular meeting is believed to be historically important to bridge mutually beneficial efforts on trade and economic cooperation development as dozens of agreements were signed between Mongolia and Russia during Russian president V.Putin`s visit to Mongolia last September.

At the meeting, Deputy Prime Minister of Mongolia, Mongolian head of Intergovernmental Commission between Mongolia and Russia D.Terbishdagva and Minister of Natural Resources and Environment of the Russian Federation, Russian head of the Intergovernmental commission Sergei Donskoi signed much protocol on the issues discussed at the meeting.

Mongolia and Russia exchanged views on further opportunities and measures to solve challenging issues on bilateral trade and economic cooperation. Issues to increase the performance and benefit of Mongolian-Russian joint venture Erdenet Copper Production, and Ulaanbaatar railway were focused on as well as how to intensify bilateral trade, extend infrastructure, mining, construction and humanity.

Chinggis Land Development Group” LLC, “Дальстроймеханизация” LC signed a memorandum to launch a project “Altanbulag-Ulaanbaatar –Zamiin Uud highway”.

In previous years, strategic partnership relations between both countries has been intensified in many sectors but the trade volume has decreased 1.6 billion USD or 15.8 percent in 2013.

Russia noted to recover activities of the Russian trade office in Ulaanbaatar would help revive bilateral trade and economic relations.

The commission previously discussed 47 issues at the 17^th intergovernmental commission meeting in Moscow. These were also reviewed and implemented. 30 are underway and three are left unfulfilled.