Mongolia and Russia signed a
nuclear cooperation agreement between the Mongolian Nuclear
Energy Department and the Russian state-run Rosatom
Corporation at the Kremlin on March 17. According to the
agreement, the document is designed to intensify the
development of nuclear energy for peaceful purposes in both
countries. The agreement would allow the parties to set up a
joint venture for developing uranium deposits in Mongolia
and Russia, as well as in the territories of third states.
Rosatom would also make plans for small and medium capacity
nuclear power plants to be built in Mongolia. Reports state
that Rosatom will participate in Mongolia’s uranium
exploration and production projects through a joint venture
with Mongolia’s newly-established state corporation MonAtom.
Estimates indicate that Mongolia has uranium reserves of
over 100,000 metric tons in the eastern part of the country.
During a meeting between Mongolian officials and Russian
Prime Minister Vladimir Putin, the Russian side agreed to
give a US$300 million loan for Mongolian agricultural
development, which will be issued by Rosselkhozbank (The
Agricultural Bank of Russia).
“The loan will be used to buy Russian agricultural
machinery, grain and fertilizers,” Putin said after the
Mongolian Prime Minister Bayar said that he hopes to
receive approximately half of the sum this year.
“It is important to ensure the sowing campaign,” he said.
The two countries also discussed the possibility of using
the national currencies of two countries, the Russian ruble
and the Mongolian togrog, as trade currencies. Trade between
Mongolia and Russia in 2008 totaled US$1.3 billion, Putin
In the railroad sector, “We’ve agreed on the creation of a
joint enterprise with Russian Railways and on the joint use
of Mongolia’s natural resources to realize major investment
projects,” Bayar added.
The two leaders also discussed closer political and military
cooperation. Bayar said he was interested in forging closer
ties between the Mongolian People’s Revolutionary Party and
United Russia, which Putin heads.
The Ministry of Culture of Russia and the Ministry of
Education, Culture and Science of Mongolia have also signed
a program of cooperation in 2009–2011. Special attention was
paid to cultural, educational and humanitarian relations,
particularly, popularization of the Russian language in
Mongolia and training of Mongolian specialists in Russia.
Prime Minister S.Bayar will pay visit to Moscow on the first
leg of his European trip.