1 GOLD AND COPPER PRICES SURGE WWW.UBPOST.MN PUBLISHED:2025/04/02      2 REGISTRATION FOR THE ULAANBAATAR MARATHON 2025 IS NOW OPEN WWW.MONTSAME.MN PUBLISHED:2025/04/02      3 WHY DONALD TRUMP SHOULD MEET KIM JONG- UN AGAIN – IN MONGOLIA WWW.LOWYINSTITUTE.ORG  PUBLISHED:2025/04/02      4 BANK OF MONGOLIA PURCHASES 281.8 KILOGRAMS OF PRECIOUS METALS IN MARCH WWW.MONTSAME.MN PUBLISHED:2025/04/02      5 P. NARANBAYAR: 88,000 MORE CHILDREN WILL NEED SCHOOLS AND KINDERGARTENS BY 2030 WWW.GOGO.MN PUBLISHED:2025/04/02      6 B. JAVKHLAN: MONGOLIA'S FOREIGN EXCHANGE RESERVES REACH USD 5 BILLION WWW.GOGO.MN PUBLISHED:2025/04/02      7 185 CASES OF MEASLES REGISTERED IN MONGOLIA WWW.AKIPRESS.COM PUBLISHED:2025/04/02      8 MONGOLIAN JUDGE ELECTED PRESIDENT OF THE APPEALS CHAMBER OF THE ICC WWW.MONTSAME.MN PUBLISHED:2025/04/01      9 HIGH-PERFORMANCE SUPERCOMPUTING CENTER TO BE ESTABLISHED IN PHASES WWW.MONTSAME.MN PUBLISHED:2025/04/01      10 LEGAL INCONSISTENCIES DISRUPT COAL TRADING ON EXCHANGE WWW.UBPOST.MN PUBLISHED:2025/04/01      УСТСАНД ТООЦОГДОЖ БАЙСАН УЛААНБУРХАН ӨВЧИН ЯАГААД ЭРГЭН ТАРХАХ БОЛОВ? WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     САНГИЙН ЯАМ: ДОТООД ҮНЭТ ЦААСНЫ АРИЛЖАА IV/16-НААС МХБ-ЭЭР НЭЭЛТТЭЙ ЯВАГДАНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     МОНГОЛБАНКНЫ ҮНЭТ МЕТАЛЛ ХУДАЛДАН АВАЛТ ӨМНӨХ САРААС 56 ХУВИАР, ӨМНӨХ ОНЫ МӨН ҮЕЭС 35.1 ХУВИАР БУУРАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     Б.ЖАВХЛАН: ГАДААД ВАЛЮТЫН НӨӨЦ ТАВАН ТЭРБУМ ДОЛЛАРТ ХҮРСЭН WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/02     1072 ХУВЬЦААНЫ НОГДОЛ АШИГ 93 500 ТӨГРӨГИЙГ ЭНЭ САРД ОЛГОНО WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/02     Н.УЧРАЛ: Х.БАТТУЛГА ТАНД АСУУДЛАА ШИЙДЭХ 7 ХОНОГИЙН ХУГАЦАА ӨГЧ БАЙНА WWW.NEWS.MN НИЙТЭЛСЭН:2025/04/02     “XANADU MINES” КОМПАНИ "ХАРМАГТАЙ" ТӨСЛИЙН ҮЙЛ АЖИЛЛАГААНЫ УДИРДЛАГЫГ “ZIJIN MINING”-Д ШИЛЖҮҮЛЭЭД БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     ТӨМӨР ЗАМЫН БАРИЛГЫН АЖЛЫГ ЭНЭ САРЫН СҮҮЛЭЭР ЭХЛҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/02     “STEPPE GOLD”-ИЙН ХУВЬЦААНЫ ХАНШ 4 ХУВИАР ӨСЛӨӨ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     ҮЙЛДВЭРЛЭЛИЙН ОСОЛ ӨНГӨРСӨН ОНД ХОЁР ДАХИН НЭМЭГДЖЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2025/04/01    

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

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Mongolia keeps mining for growth amid economic uncertainty www.eastasiaforum.org

Despite global uncertainty, Mongolia's new government is working to maintain economic growth which is fuelled by strong export performance and fiscal expansion. But structural challenges such as the severe contraction of the agricultural sector due to harsh weather conditions, potential disruptions resulting from factors such as petroleum supply from Russia, a slowing Chinese economy and increased budget spending could test the country's resilience.
Following Mongolia’s 2024 election, a new government faces the challenge of sustaining economic growth amid rising global uncertainty. Strong export performance and fiscal expansion fuel optimism, but structural challenges may test the country’s resilience.
The Mongolian economy is continuing its recovery from COVID-19-related slowdown. Economic growth was 4.9 per cent in 2024, which is significantly lower than the 7.4 per cent growth in 2023 and the average growth rate of 6.4 per cent over the past 18 years. The industrial sector grew by 5 per cent, with the mining sector expanding by 5.7 per cent.
But the agricultural sector, which accounted for around 10 per cent of GDP, contracted by 25 per cent in the first three quarters of 2024. This decline is attributed to severe winter and spring weather conditions, known as the ‘Dzud’, which led to the loss of 8.1 million animals — 12.5 per cent of total livestock.
Total exports increased moderately by 3.9 per cent compared to the previous year, reaching US$15.8 billion, while imports rose sharply by 25.5 per cent to reach US$11.6 billion, both marking historical highs.
Export growth was primarily driven by a significant increase in copper exports. The volume of copper exports reached a record 1.7 million tons, up 11.1 per cent from the previous year, while the average border price of copper increased by US$236 per ton, boosting the value of copper exports by 26 per cent. Though coal export volume grew by over 20 per cent to a historic high of 83.7 million tons in 2024, the price of coal fell by US$25.4 per ton, leading to a 2.3 per cent decline in the value of coal exports.
Economic growth in 2024 was fuelled by significant expansion on the demand side. With relatively favourable conditions for commodity exports and a positive outlook of the near future, the state budget revenue and grants increased by 28.7 per cent from 2023, reaching a historic high of 31.4 trillion Mongolian togrog (US$9.1 billion). Budget expenditure expanded by 34.9 per cent, reaching another historic high of 30.4 trillion Mongolian togrog (US$8.8 billion). Private consumption and investment also rose by 27.8 per cent and 26.8 per cent respectively in the first three quarters of 2024.
Inflation remained within the central bank’s target range, averaging 6.6 per cent in 2024. This was despite ongoing uncertainties in the external environment, capacity constraints in energy, transport and logistics sectors, significant demand-side expansion and negative supply shocks in animal husbandry.
The labour force participation rate continued its steady rise, reaching 63 per cent in the third quarter of 2024, while the unemployment rate rose to 6.1 per cent.
The rise in exports also improved the country’s foreign exchange reserves, which registered a record high of US$5.5 billion. This milestone is especially significant considering the Bank of Mongolia made payments of around US$1.1 billion in foreign debt. The togrog remained relatively stable against the US dollar throughout 2024.
The government’s debt management strategy for 2023–25 stipulates that new foreign securities will be issued solely for the purpose of refinancing existing debt. Following implementation, as well as abovementioned positive changes in the economy, the government’s sovereign bond spread reached the lowest in history — 2.3 per cent — in 2024. As a result, credit rating agencies S&P Global and Fitch Ratings upgraded the country’s credit rating to B+ and B2 respectively, marking the highest rating in the past decade.
Mongolia saw the formation of its first 126-member parliament following the 2024 parliamentary election. The election — based on a mixed electoral system — led to five parties winning seats, with 78 members elected from constituencies and 48 from party lists. Notably, 25 per cent were women — the highest level of female participation in recent generations.
Though the Mongolian People’s Party won the majority of seats, it formed a coalition government with the Democratic Party and the HUN Party, giving it a 94 per cent supermajority. The current coalition government is aiming to implement 14 mega-projects in the next four years, having endorsed linking the railway border connection with China — which should boost coal export revenue by 2.8 times — and uranium mining in collaboration with the French ‘Orano’ group.
The new parliament finally adopted the Law on the Sovereign Wealth Fund after many years of deliberation. The fund is composed of three sub-funds, designed to accumulate wealth, finance large state investments and support social measures. Budget discussions were notably intense, resulting in the adoption of a zero-deficit budget for 2025.
But the Fiscal Stability Law, which has been in effect since 2013, was amended to remove the upper limit on the overall budget deficit, replacing it with a lower limit on the primary balance surplus. The long-term impact of this change has not been fully assessed, nor has its potential to ensure fiscal stability.
Looking ahead to 2025, factors such as disruptions in petroleum supply from Russia, a slowdown in Chinese economy, expanding budget spending, spiralling wage increase, surges in electricity and heat prices and the continued impact of the Dzud will continue to put pressure on inflation and economic growth.
By: Tuvshintugs Batdelger is the Director at the Economic Research Institute, Mongolia and Professor at the National University of Mongolia.
Nomun Enkhbold is a Researcher at the Economic Research Institute, Mongolia
This article is part of an EAF special feature series on 2024 in review and the year ahead.
https://doi.org/10.59425/eabc.1740780000
 
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Statement by Secretary Marco Rubio on On Mongolian Tsagaan Sar www.mn.usembassy.gov

To all those celebrating Tsagaan Sar in Mongolia, the United States, and around the world, we hope the new year will bring greater security, strength, and prosperity for all.  
The United States is proud to be Mongolia’s Strategic Third Neighbor and democratic partner. We look forward to deepening the relationship between our two countries in the coming year.

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President of Mongolia Khurelsukh Ukhnaa Extends Lunar New Year Greetings www.montsame.mn

In his address marking the beginning of the Year of the Wooden Snake, President of Mongolia Khurelsukh Ukhnaa extended Lunar New Year greetings to the people of Mongolia and Mongols living all across the world.
“Dear citizens,
Dear fellow Mongolians residing in different countries around the world,
I extend my warmest wishes on the Lunar New Year celebration of the 17th cycle, the “Eldev Erdenet” Year of the Wooden Snake. In keeping with our time-honored state customs and the traditions of our people, we bid farewell to the old year, welcome the auspicious new year, speak words of wholesome meaning, engage in virtuous deeds, offer blessings for enduring fortune, overcome the harsh winter in peace, and greet the early spring with optimism. I hope you are all celebrating the Lunar New Year with joy.
Since ancient times, we Mongols have revered Father Sky and Mother Earth, worshiping our mountains and waters, observing the stars and planets, and aligning our daily lives and endeavors with them. We have celebrated the Lunar New Year with grandeur, honoring and greeting our kin and our elders, and fostering unity. From the era of the Hun Empire onward, the Mongol Lunar New Year has been our nation’s New Year celebration, a time when everyone grows a year older, a festival marking renewal and the transition to spring. It is also a national celebration that symbolizes the profound cultural heritage, customs, harmony, and unity of the Mongol people.
Dear citizens,
In the passing Year of the Wooden Dragon, the population of Mongolia, whose households serve as the bedrock of state and society, grew by over 60,000 newborns, reaching a total population of 3,550,000. Owing to the diligent efforts of our herders and farmers, and to the blessings of our environment, the number of our livestock increased to 57 million, while harvests exceeded 970,000 tons.
Moreover, our national economy grew by 5 percent, foreign trade and investment increased, exports and foreign currency reserves hit historic highs, the State Budget closed in surplus, and strategic mega-projects were launched. During this powerful Dragon Year, Mongolia’s foreign policy and international relations gained further momentum on the world stage. We successfully carried out historic high-level State Visits, promoted our heritage, culture, and achievements worldwide, and experienced a pinnacle of international cooperation.
My fellow citizens,
Mongols living across the globe,
When Great Emperor Chinggis Khaan proclaimed the Mongol State, he designated the First Month of Spring, the Month of the Tiger, as the beginning of the year, thus initiating our centuries-long tradition of celebrating the Lunar New Year as a State Festival. The Mongol Lunar New Year is a symbol of our nation’s pride and spirit, our independence and unity, our cultural heritage, and our fortune. In order to safeguard, preserve, disseminate, and pass down to future generations the magnificent history, culture, and traditions of our ancestors, it brings me great pleasure on this festive occasion to highlight that the President of Mongolia has issued decrees to honor the portrait of Great Emperor Chinggis Khaan, restore the ancient capital city of Kharkhorum, revere the Morin Khuur (Horse-Head Fiddle musical instrument) as a national treasure, and compile a comprehensive 30-volume history of the Mongol nation.
Additionally, to study and share our nation’s history with our people, we have produced, for the first time, a fully annotated dictionary of “The Secret History of the Mongols.” We have organized the international exhibition “Chinggis Khaan–How the Mongols Changed the World” and showcased performances of the Morin Khuur National Ensemble, Mongolia’s cultural envoys, in various countries, thereby promoting our heritage worldwide. This Lunar New Year, we ceremoniously enshrine at the Chinggis Khaan National Museum the Golden Statue of the Great Chinggis Khaan, the Great White Banner, and the Imperial Seal of the Mongols, along with the public inauguration at the Great Khaan’s Urgoo [The Royal Chamber]. Furthermore, I am pleased to announce that from the start of this year, our centuries-old Mongol script has been reinstated as the official script for public office.
Our standing Mongol script has recorded and preserved the centuries of our state traditions, forming an essential pillar of Mongol culture, intellect, and national identity. It symbolizes our status as a sovereign nation. Thus, studying and mastering this script and safeguarding our cultural heritage should be a point of pride for every Mongol. Every one of us must remember that we guard the hearth of the Great Mongol Empire established by Chinggis Khaan, remain faithful to our Great Khaan’s teachings, uphold harmony and unity, and recognize that we are one Mongol people, one nation, one family. We must think open-heartedly, and stand together, caring for, protecting, and supporting one another as we work to develop our country so that our entire population may live in peace and harmony.
May the forthcoming ‘Eldev Erdenet’ Year of the Wooden Snake bring good health and tranquility to our elders, knowledge and capability to our youth, energy and vibrancy to our children, well-being for the entire population, a firm and stable state, a pure faith, and a peaceful world. May the blessings of spirit akin to the Eternal Blue Sky and our wisdom as wide as the steppes multiply and may our collective destiny flourish. May the spirit of our people rise high, and may we all enjoy a peaceful and prosperous New Year. Under the power of Eternal Blue Sky, may Mongolia prosper for eternity!”
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UAE and Bahrain to invest $500 million in Mongolia in first round www.gogo.mn

The United Arab Emirates and the Kingdom of Bahrain will collaborate on the exploration and production of oil, natural gas, and mineral resources in Mongolia, with an initial investment of $500 million.
Additionally, discussions have highlighted the potential for up to $10 billion in investment for a major renewable energy export project.
Negotiations are currently underway to conduct research and feasibility assessments. According to First Deputy Prime Minister T. Dorjkhand, the interest of Gulf countries in investing in Mongolia is growing due to large-scale construction projects proposed by the joint government, as well as the country’s political and policy stability.

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Volume of accumulated investments from UAE to Eurasian region grows by 18.4% in 1.5 years - EDB www.akipress.com

The accumulated investments of the UAE in the Eurasian region have showed stable annual growth for more than 8 years, according to the report of the Eurasian Development Bank (EDB, 2025).
The volume of accumulated investments of the UAE increased by 71% compared to 2016 and reached $12.2 billion at the end of the first half of 2024. The growth was 18.4% over the past year and a half.
The bulk of investment (90.3%)  in 2024 are primary investments.
According to the EDB, the total number of active projects involving investments from the UAE reaches 15. Purchase with expansion accounts for 8.2% of the total volume of accumulated investments with a total project value of $1 billion.

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Uzbekistan And Mongolia Set To Strengthen Air Links With New Hunnu Air Partnership www.travelandtourworld.com

Uzbekistan Airports and Mongolia’s Hunnu Air discuss launching direct Tashkent-Ulaanbaatar flights in 2025, boosting connectivity and travel ties. Uzbekistan Airports Explores Aviation Partnership with Mongolia’s Hunnu Air Uzbekistan Airports has engaged in discussions with Mongolia’s Hunnu Air regarding potential collaboration, focusing on the introduction of direct scheduled flights between Tashkent and Ulaanbaatar. Hunnu Air, a private Mongolian airline based in Ulaanbaatar, has been serving passengers since its establishment in 2011. Operating from Chinggis Khaan International Airport, the carrier runs both domestic and international routes utilizing a fleet of ATR 72-500 and Embraer 190 aircraft. This potential new air route is expected to enhance connectivity between Uzbekistan and Mongolia, fostering stronger economic and cultural ties.
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Concessional Loan Agreement to Finance the “Atar-4” Campaign Signed www.montsame.mn

The Ministry of Food, Agriculture, and Light Industry of Mongolia, the Bank of Mongolia, and 10 commercial banks have signed a Concessional Loan Agreement to Finance the “Atar-4” Sustainable Agriculture Development Campaign.
Under the Agreement, commercial banks will provide loans worth MNT 800 billion to agriculture, livestock, and food production industries. Of this, up to MNT 350 billion will be allocated for working capital, and the rest for investment purposes. In 2025, MNT 52.8 billion will be allocated in the State Budget of Mongolia to subsidize loan interest rates, including 10 percent of the interest rate on working capital loans. The loan term is set at two years for working capital loans and four years for investment loans.
Minister of Food, Agriculture, and Light Industry Enkhbayar Jadamba said, “A month ago, the Bank of Mongolia and commercial banks signed a financing agreement for a large-scale program to improve the processing of wool, cashmere, and leather light industries. Today, a document for the “Atar-4” movement has been signed that will realize the Government’s goal of combining, intensifying, and diversifying agriculture with animal husbandry, and taking light and food industries to a new level. This program will be implemented until 2028 which would increase agricultural fields by 200 thousand hectares and boost production in food, agriculture, and light industries. To achieve this, agricultural fields must be protected from soil erosion. Mongolia's population will reach four million by 2030. In addition, the number of tourists visiting Mongolia will reach one million. Therefore, there is an urgent need to increase the volume of food cultivation and production to meet the growing demand. On the other hand, in collaboration with the "One Billion Trees" National Movement initiated by the President of Mongolia, we will elevate soil conservation policy, protecting soil fertility and establishing forest belts, introducing suitable advanced technologies in stages, including for irrigation and crop rotation. We will take comprehensive plant protection measures and develop seed breeding complexes. With these measures, we aim at increasing the food yield per land unit and create conditions for domestic production to meet 100 percent of the needs for grains, potatoes, and staple vegetables, and 70 percent of fodder demand."
"Moreover, we will support intensive livestock farming, adding 200 thousand high-yielding cows to the livestock herd and developing intensive meat and milk clusters. Another major task of this program is to augment feed cultivation for intensive livestock farming. Essentially, we will revolutionize feed cultivation and production. A network that directly connects farmers with producers will be established. The movement strives that all the stakeholders engaged in the food, agriculture, and light industry sectors can develop together. As a result, Mongolia will achieve the goal of providing its population with healthy and safe food and developing export-oriented agriculture. The export of Mongolian food, agriculture, and light industry sectors currently amounts to USD 1 billion, while the implementation of the “White Gold” National Movement and “Atar-4” Campaign, which are interconnected, will enable us to augment the export to USD 2 billion,” the Minister noted.
To boost agricultural production, increase capacity, and improve efficiency, investment loans will be provided to individuals and enterprises engaged in agricultural production in 15 areas as follows:
1. Establishing a fully mechanized threshing floor
2. Establishing a new mechanized potato and vegetable storage and cellar
3. Establishing a new greenhouse and plant factory (hydroponics, aeroponics)
4. Increasing the capacity of agricultural machinery and equipment, purchasing new ones
5. Establishing and expanding a mushroom factory
6. Expanding and establishing a new beef cattle farm, purchasing equipment
7. Expanding and establishing a new livestock breeding farm, purchasing equipment
8. Stabilizing poultry farming operations, expanding production, purchasing equipment
9. Establishing feed plant and expanding feed production
10. Stabilizing beekeeping farm operation, expanding production, purchasing equipment
11. Establishing a new dairy cattle farm (cluster), expanding production, purchasing equipment
12. Upgrading food processing equipment
13. Establishment and expansion of a new processing plant for grains (soybeans,  peas, beans, rye, barley) and purchase of new equipment
14. Establishment and expansion of a new food and meat warehouse and purchase of new warehouse equipment
15. Establishment of a new packaging plant for agricultural products

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15th Mongolia-UK Round Table Meeting to be held in Britain www.akipress.com

The 15th Mongolia-UK Round Table Meetingwill be held in the UK on February 26.
The meeting will be chaired by Deputy Prime Minister of Mongolia Amarsaikhan Sainbuyan and Secretary of State for the Indo-Pacific at the Foreign, Commonwealth and International Development Office of the United Kingdom Catherine West.
The parties will discuss relations and cooperation between Mongolia and the United Kingdom, as well as ways to collaborate in major construction projects. They will also discuss the finalization of the Partnership and Cooperation Agreement to be concluded between the two countries.
The Deputy Prime Minister of Mongolia will also meet with Minister for Services, Small Business and Exports Gareth Thomas to discuss further steps to develop bilateral cooperation.
Diplomatic relations between Mongolia and the UK were established in 1963. Cooperation has covered many areas, including trade, investment and education in the past 62 years.

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Remarks to joint press conference with Foreign Minister of Mongolia www.govt.nz

(By Mr. Rt Hon Winston Peters Deputy Prime Minister and Minister of Foreign Affairs of the New Zealand)
It is a pleasure for the New Zealand to be in Ulaanbaatar this afternoon. The welcome has been warm, even if the temperatures outside have not been. Though, your Ambassador tells me the temperature reached +1 degrees Celsius at midday today! Thank you to Foreign Minister Battsetseg for your generous hosting. 
Despite our geographic distance, New Zealand and Mongolia share many commonalities: both small states committed to democracy, multilateralism, and the international rules-based order. 
We also share proportional representation electoral systems, New Zealand since 1996, and Mongolia since 2024. 
The New Zealand-Mongolia relationship is warm and long-standing. It is significant that this year we are marking 50 years since diplomatic relations were established in 1975. This is a seriously important milestone. 
It was valuable exchanging views and experiences today with the Minister and colleagues, and discussing our respective regional and international priorities. 
The New Zealand community here in Mongolia is small, but an important element to our relationship. We thank the New Zealand community – and Mongolians in New Zealand – for their support for this relationship, and for continuing to find exciting new ways to connect our countries. 
Ties between our people continue to deepen. We continue to welcome Mongolian scholars to New Zealand, including through the long-standing English Language Training for Officials (“ELTO”) programme. 
New Zealand is also pleased to provide targeted support to Mongolian NGOs and other groups through the New Zealand Embassy Fund. This has included support for sheep-shearer training programmes. This might sound ordinary, but shearing is a critical part of ensuring productivity! 
This year we are contributing towards a rural water project, which will support over 100 families to access the water supply system. We are also helping Mongolian herders to build climate change resilience. 
Once again, thank you to Foreign Minister Battsetseg and other senior Mongolian colleagues for your generous hosting on this important occasion. 
And allow me to reiterate one last time what a special significance it is for me to be here today. 
Thank you.

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Foreign Minister of Mongolia to Pay an Official Visit to Japan www.montsame.mn

At the invitation of Minister of Foreign Affairs of Japan Takeshi Iwaya, Minister of Foreign Affairs of Mongolia Battsetseg Batmunkh will pay an official visit to Japan from February 28 to March 5, 2025.
During the visit, Minister of Foreign Affairs of Mongolia Battsetseg Batmunkh and Minister of Foreign Affairs of Japan Takeshi Iwaya will hold official talks. Foreign Minister Battsetseg will meet with other officials to exchange views on expanding and deepening the “people-centered” relations and cooperation between the two countries in all sectors at the level of the Special Strategic Partnership for Peace and Prosperity and on regional and international issues of mutual interest. Also, documents on projects to be implemented under the grant aid of the Government of Japan are expected to be signed.
This visit is remarkable as it marks the first visit of the Minister of Foreign Affairs of Mongolia to Japan in 13 years as an honored guest of the Ministry of Foreign Affairs of Japan, with the last such visit taking place in 2012. Mongolia and Japan established diplomatic relations on February 24, 1972.

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