Mongolia Plans To Open Trade Mission In Russia's Vladivostok Next Year - Foreign Minister

Mongolian Foreign Minister Damdin Tsogtbaatar told Sputnik on Wednesday that Ulaanbaatar had decided to open a trade mission in the city of Vladivostok in Russia's Far East in 2019.

SOCHI (UrduPoint News / Sputnik - 17th October, 2018) Mongolian Foreign Minister Damdin Tsogtbaatar told Sputnik on Wednesday that Ulaanbaatar had decided to open a trade mission in the city of Vladivostok in Russia's Far East in 2019.

"Our government has recently made a decision to approve the program for reopening and maintaining trade missions around the world. One of the first trade missions that will be opened under that program is the one in Vladivostok, and we are planning to do it next year," Tsogtbaatar said on the sidelines of the annual meeting of the Valdai Discussion Club in the Russian resort city of Sochi.

The minister stated that the mission would enable the country to trade efficiently with Russia's Far East region.

Now that Russia was focusing on development of its Far East, it could benefit from the establishment of the Mongolian trade mission that would facilitate trade and logistics between the two countries, the minister added.

"Many of the products that are produced in Mongolia can be in demand in the Russian Far East. That's one thing. Secondly, the Far East is also a transit route for Mongolian goods, and we want to explore that potential," Tsogtbaatar said, recalling a long-term deal, signed by Moscow and Ulaanbaatar in summer to cut transit fees for Mongolian goods that are transported via the Russian territory.

In September, the possibility of setting up the Mongolian mission in Vladivostok was discussed by Russian President Vladimir Putin and his Mongolian counterpart Khaltmaa Battulga.