Iranian President Hassan Rouhani has called on the Iranian private sector to undertake development projects in Mongolia to further promote trade ties between the two countries.

Iranian President Hassan Rouhani made the remarks in a meeting with his Mongolian counterpart Kh.Battulga on the sidelines of the 18th Meeting of the Council of Heads of Member States of the Shanghai Cooperation Organisation in the east China’s coastal city of Qingdao.

The Iranian President said: “The development of economic relations is in line with the interests of the two nations, and we encourage the Iranian private sector and businessmen to participate in Mongolian development projects’.

The Iranian president stressed the role of banking relations in expanding economic cooperation, adding that Iranian investors could invest in the animal husbandry sector in Mongolia.

‘Tehran is ready to develop and strengthen its economic and trade relations with Mongolia, and all the existing capabilities and opportunities must be tapped to deepen relations,’ Rouhani stressed.

President Kh.Battulga, for his part, said that Iran-Mongolia relations are developing and emphasised that his country is determined to strengthen its relations with Iran in all fields, especially the economy.