Ambassador to Russia D.Idevkhten has
said Russia was and will again be “our key partner in foreign trade”, carrying
on a historical process that reached a peak in the last century. Radical
changes in both countries led to some disruption in these traditional relations
but recent years have witnessed a revival of the historical ties, with
Presidents and other senior functionaries exchanging visits, increasing
inter-parliamentary cooperation, and growing trade in the private sector.
Mongolia now follows a multi-polar and multilateral foreign, and foreign trade
policy, and the former pre-eminence of Russia in economic cooperation may not
return, but since the signing by the two Presidents of the Ulaanbaatar
Declaration, relations have been getting stronger and the partnership has taken
on a new strategic role.

As an example, he cited the very recent Russian Government decision to invest
USD250 million on developing Ulaanbaatar Railway. The Mongolian Parliament’s
decision to use the Russian variety of gauge in its new railway also has
important political implications. A joint company has been established to work
in the infrastructure sector. There is enough scope, the Ambassador feels, for
the two countries to go beyond traditional areas of economic cooperation such
as uranium, minerals, and the railway.