President of Mongolia Kh.Battulga held a bilateral meeting with his Azerbaijani counterpart Ilham Aliyev in Baku on 24 September. During the one-to-one talks, President Kh.Battulga recalled an interesting detail in bilateral relations in which the Baku Oil Refinery, at the time, the Soviet Union’s oldest and most important refinery, established a small plant in Zuunbayan, Mongolia, on 5 December 1951. The plant was run until 1969 with Azerbaijani experts. President Ilham Aliyev noted that it was possible for the two countries to cooperate in this sector, given the past experience.

In addition, the two sides agreed to jointly enter foreign markets via Mongolian territory, actively participate in regional development, and explore opportunities to cooperate in logistical assistance in exporting Mongolian-made products to the world market.

President Aliyev agreed to send a research team from the Ministry of Economic Development and business representatives of Azerbaijan to Mongolia in October 2018.

The heads of states also agreed to explore ways of exporting agricultural products, including meat and leather, to Azerbaijan, making an investment for the establishment of a cashmere and wool processing and carpet factory that will provide jobs to 300 people in Mongolia, and bringing in the required technology from Azerbaijan.