The
14^th conference on trade, economic, scientific and technical
cooperation between the Russian and Mongolian Governments took place in Ulaanbaatar
on Tuesday. The host team was led by First Deputy Prime Minister N.Altankhuyag who
recalled the special significance of the meeting as it is the first since President
Ts.Elbegdorj’s last visit to Russia.

The
meeting began with a review of the implementation of decisions reached at the last
meeting. The two sides agreed to make a thorough study of whether the terms of the
1949 agreement on Ulaanbaatar Railway needs to be revised. They discussed revising
the railway tariffs, reforming the UB Railway Association, and raising the railway’s
capital by a fresh investment of USD250 million.

The
two sides agreed to expedite establishment of the Dornod Uranium Company, and
expand the operations of joint ventures such as the Erdenet factory and Mongolrostsvetment,
hold further talks on reducing taxes on oil products imported from Russia, and increase
livestock product exports. There was agreement to increase the number of Russian
Government scholarships to Mongolian students in Russia.

Russia’s
Transportation Minister I.E.Levitin and Altankhuyag signed the related
contracts.