Russian President Vladimir Putin visited Ulaanbaatar on 2-3 at the invitation of Kh.Battulga, President of Mongolia in order to mark the 80^th anniversary of Victory of the Battle of Khalkhin Gol. It was Putin’s third visit in Mongolia as President of Russia.

At the meeting on Tuesday, the leaders of two neighbouring countries upgraded their relations to the highest level by signing a comprehensive strategic partnership. In addition, the two sides signed 10 agreements mostly connected with developing economic cooperation and renewing cooperation in traditional sectors as well as to conducting joint mining research.

During the visit, ‘Erdenes Mongol’ LLC signed an MoU with Russia’s ‘Rosseti’ Company. It is considered as Mongolia’s first step of cooperation with Russia as initiator of North-East Asia Power Interconnection and Cooperation (NEARPIC).

Trade volume between two countries has reached USD 1.8 billion; this is an increase on previous years; however, only 0.5 percent was accounted for by Mongolian exports.