Mongolia-Canada ties in trade and investment to be expanded
Mongolia-Canada ties in trade and investment to be expanded.
Mongolia-Canada ties in trade and investment to be expanded. Intergovernmental agreement on promotion and protection of investments and MoU on development assistance and a Cooperation MoU were signed during the recent visit of Speaker of the House of Commons of Canada, Mr Geoff Regan to Mongolia. CAD 55.4 million development assistance programs will be implemented in Mongolia in the coming four years. These programs focus on improving management in mining and natural resources, promoting transparency in administration and governance, improving competitiveness of yak wool and cashmere industry and the mineral resource and food security. While meeting the Canadian Speaker Mongolian Prime Minister Mr. J.Erdenebat said “Canada is one of the Third Neighbors of Mongolia and is an important partner in North America. So, Mongolia aspires to progress the ties on a comprehensive partnership level.” The newly signed Mongolian-Canadian intergovernmental agreement on promotion and protection of investments will open Mongolia's door broader to Canadian investors, noted Mr. Prime Minister. Mr. Geoff Regan expressed the hope that the intergovernmental agreement will contribute to broadening bilateral cooperation, and thanked the Mongolian government for taking actions to create a favorable condition for foreign investors.
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