The office of the President of Mongolia, Public Relations & Communications Division


Speech by Mr. Elbegdorj Tsakhia, President of Mongolia, at the second Mongolia-India Business Forum

Dear Mr. Arun Nanda,
Dear Honorary Consul Mr. Dilip Dandekar,
Ambassador Varma,
Dear Businessmen,
Friends, Ladies and Gentlemen,

At the onset, I’d like to convey my greetings to the participants of this Forum.

I welcome and commend the resolve of the Mongolian and Indian business communities and the affiliated professional associations and organizations to promote Mongolia-India’s agenda on business and economic front.

Mongolia and India have ages-old history of friendship. We have deep-rooted historical and civilizational ties. We understand each other well and share genuinely hearty feelings and respect to each other.

I am visiting your beautiful country to reaffirm that we profoundly value our friendship with India and its people. We have also come to attest the need to enrich our friendship and cooperation with new substantive dimensions and qualities.

I am happy to inform you that two days ago, Mongolia and India made a historic decision to drastically advance the level and scope of our cooperation – we declared the Comprehensive Partnership between Mongolia and India. Our comprehensive partnership provides a firm ground for all-embracive and all-inclusive cooperation.

We regard India as our third neighbor, and this neighborhood offers us tremendous opportunities. Mongolia is deeply interested to dwell on Mongolia-India comprehensive partnership as an effective venue to balance the interests of our two immediate neighbors, Russia and China. Adding economic dimensions and parameters to our relations broadly diversifies and avails the content of our partnership.

The Comprehensive Partnership expands our more than 2 millennia old spiritual ties to a much widened horizon, responding to the needs of modern times. In this context, we have agreed to increase trade, support India’s participation in Mongolia’s minerals industry, expand cooperation in agriculture, pharmaceutics, statistics, health and education, defense and security. Most importantly, we have agreed to embark upon a long-term and extensive cooperation in information and communication technology. And the signing of a Memorandum of Understanding on the peaceful use of nuclear energy marks the start of a cooperation of international relevance.

For any mutually beneficial cooperation to prosper, businesses should enjoy certain necessary prerequisites, and I view, Mongolia and India have in place all of them. But particularly, I wish to highlight a few:

1. Mongolia is a stable democracy, with clear and well functioning political system. Her immediate neighborhood with Russia and China provides an easy and fast access to the world’s largest markets. Mongolia’s geographic location qualifies her to become a regional hub of all sorts of services as well as an effective gateway to advanced ICT and reliable infrastructure. Our people are young and educated, in fact, our literacy rate is 98% which is a remarkable endowment for economic empowering.

India evolves as one of the world’s most dynamic and strong economies. It is the global powerhouse of information and communication technology. We are thrilled to learn from India’s vast experience in this field.

2. There is an immense business space for you to explore in Mongolia. In fact, Mongolia is often referred to as a Land of Opportunities. So the opportunities, the business niches are there. ICT, geological surveys, mining and mining infrastructure, metallurgy, agriculture, farming, social infrastructure – are all fertile venues of cooperation.

3. Certainly, an enabling legal and regulatory environment must be in place as well. The necessary infrastructures are present – Our two countries have an Investment Promotion and Protection Agreement, we also have the Agreement to Avoid Double Taxation. We have our Joint Committee at the Government level to facilitate to invigorated cooperation. Our Governments are committed to further enhancing the business environment.

Dear friends, I take this opportunity to meet with you today to emphasize an important issue on Mongolia’s development agenda. Mongolia boldly aspires clean development. India’s impressively rich experience would render us an invaluable help in preserving and sustaining our nature and ecosystems. Energy efficient technologies, green and white revolution achievements will be didactic for Mongolia. And here again, necessary mechanisms and facilities are being established in Mongolia to promote all forms of cooperation. At public to private, private to private, and even at people to people level, clean and green development principles are to be prioritized.

On another note, yet within the same topic – high on our development agenda is the issue of enhancing competitiveness. I earnestly look forward to branding Mongolia-India cooperation. Mongolian and Indian strengths could be combined, could complement each other to showcase in Asia models of cooperation in farming, agriculture, pharmaceutics and many other fields.

This Forum provides an excellent venue for our businessmen to discuss and brainstorm on specific issues and come up with concrete decisions. The peoples and governments of Mongolia and India, have a firm trust in you, in your creative contributions to the cause of advancing our societies. We will work together to translate our agenda into reality.

With this, I wish success in the work of the Forum. And once again, please accept my hearty greetings. Thank you.