In 1923, a trade agreement was signed between Mongolia and the former Soviet Union. Russia remains to be one of the largest trade and economic partner of Mongolia. During the forum four areas of collaboration were discussed which were bilateral relations in the field of economy and trade, the development of border cooperation, the bilateral collaboration in the geology, mining, and mineral sectors, and the bilateral relations in infrastructure, fuel, and energy.

The Russian delegation was led by A.V.Gordeev, Minister of Agriculture, the Mongolian side--by D.Terbishdagva, acting Minister of Food and Agriculture. Over 200 persons took part in the forum from both sides.

Russian delegation has made some specific promises, one of which is in supplying 30 thousand tones of wheat for lower price. “Polimetal” and “Gazprombank” have expressed their interest in investing in mining sector. Romashev I. V. – director of a Russian Railway Administration has made it clear that Russia is ready to invest substantially in the railway sector recognizing importance of the Mongolian Railway as a bridge between Russian and Chinese trade.

The forum has made a progress on several issues on Mongolian-Russian relations which where left out for several years and its participants agreed that it will be beneficial to have this forum annually.

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