Mongolia and Russia have reached an agreement to expand and develop cooperation in the mining, energy, road transport sectors and further strengthen their comprehensive strategic partnership. This was reported by the press service of the Mongolian government following a meeting between Prime Minister Luvsannamsrain Oyun-Erdene and Russian Minister of Natural Resources and Environment Alexander Kozlov, who heads the Russian part of the intergovernmental commission on trade and economic cooperation.
“The parties are satisfied with the active development of relations between the two countries and the strengthening of their comprehensive strategic partnership. An agreement was reached to expand and develop cooperation in the mining, energy, road transport sectors,” the Mongolian government website reports.
During the meeting, the parties noted that negotiations on an agreement between the Mongolian and Russian governments on trade in oil and oil products will be completed in the near future. An interim free trade agreement between Mongolia and the Eurasian Economic Union (EAEU) will be concluded in December 2024.
In addition, specialists from the Russian Federation will modernize the coal-fired CHPP-3. A working group of Mongolian and Russian experts will be formed as part of the project to build a hydroelectric power station on the Egiin-Gol River, which flows into the largest tributary of Lake Baikal, the transboundary Selenga River.