Ts.Elbegdorj: Mongolia and Japan need to bring economic cooperation to a new stage


Business delegacies of Japan, headed by Japan Business Federation (Keidanren) Chairman Sadayuki Sakakibara, paid a working visit to Mongolia to attend the Mongolia-Japan Business Forum, on August 25 and 26. They met with President Ts.Elbegdorj, Prime Minister Ch.Saikhanbileg, and Speaker of Parliament Z.Enkhbold.
Welcoming the visiting delegates, President Ts.Elbegdorj noted that Keidanren organized the Mongolia-Japan Business Forum in Tokyo, Japan, for the second time in the past few years, and highlighted the importance of their visit to Mongolia to meet business people, state officials, and decision makers with such a wide range of representatives. He stressed that the relationship between Mongolia and Japan has grown stronger, noting that political cooperation and mutual trust are at their highest level.
“Now there is a need to bring bilateral economic cooperation into a new stage of development, enriching our relations with new content. His Excellency Prime Minister of Japan Mr. Shinzo Abe proposed the Erch Initiative,” he said, and added that Mongolia sees this initiative as the intention to establish more intensive, rapid, and comprehensive relations between the two countries.
Chairman Sakakibara of Keidanren congratulated the people of Mongolia on the 25th anniversary of the Democratic Revolution in Mongolia and extended his congratulations to all Mongolians for successfully developing democracy and a market economy. He recalled President Ts.Elbegdorj’s visit to Japan in May 2015, where the Mongolian side invited Keidanren to visit Mongolia.
The sides discussed opportunities to bring Japan’s investment know-how to Mongolia, and touched upon issues of supplying domestic products to the Japanese market and other countries. They also shared views on intensifying Mongolian and Japanese cooperation in mining and infrastructure and introducing Japan’s advanced technology to those fields.
One of the stated priorities of Mongolia’s foreign policy is to advance all appropriate relations and cooperation with Japan, which is considered one of Mongolia’s third neighbors, Speaker Z.Enkhbold noted when meeting the Japan Business Federation delegates.
Recalling the signing of the economic partnership agreement (EPA) established between Japan and Mongolia, the Speaker said the opportunity to join regional economic integration has been opened for Mongolia, and it has become a big contributor to securing the third neighbor policy in economic terms.
He also emphasized that the Parliament of Mongolia intends to make amendments to several laws in order to implement the EPA, and said that these laws will be discussed and resolved in the near future.
Sakakibara expressed his gratitude for the warm welcome and said the EPA is under implementation, to be commenced quickly and promptly. He added that Keidanren representatives were looking into opportunities for cooperation in investment and a thermal power plant project.
Keidanren is a comprehensive economic organization with a membership comprised of 1,329 representative companies of Japan, 109 nationwide industrial associations, and 47 regional economic organizations.
Its mission as a comprehensive economic organization is to draw upon the vitality of corporations, individuals, and local communities to support corporate activities, which contribute to the self-sustaining development of the Japanese economy and improvement in the quality of life for the Japanese people.

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