Right after his arrival in Ulan-Bator on October 30, Vietnamese State President Nguyen Minh Triet held talks with Mongolian counterpart Nambaryn Enkhbayar.

During the talks, Mr Enkhbayar said that Vietnam is one of Mongolia’s closest friends and expressed his wish that Vietnam would act as a bridge to cooperation between Mongolia and other Southeast Asian nations.

Host and guest agreed that Vietnam and Mongolia have maintained a close relationship since they established their diplomatic ties 54 years ago. People from both countries have enjoyed mutual support on a friendly basis. However, trade and economic ties are far from matching political relations and the potential for bilateral cooperation.

Last year, Vietnam earned more than US$5 million from exporting processed agricultural products, garments and textiles and fine arts and handicraft products while Mongolia has exported nothing to Vietnam for seven years.

The two State leaders consented to continue exchanging high-level visits between ministries, sectors and localities in order to further promote the time-honoured friendship.

They called on ministries and sectors from both countries to implement the signed cooperation agreements with a focus on enhancing the role of the Vietnam-Mongolia Inter-Government Committee for Economic, Commercial, Scientific and Technological Cooperation so as to give a boost to bilateral cooperation in economics, trade, investment, science and technology, agriculture, education and health care.

The two Governments should encourage and support businesses seeking more investment opportunities, they stressed.

Mongolia welcomes Vietnamese businesses to investment in the areas of mining, oil and gas exploration, infrastructure and urban development, agricultural product processing, and medicine production for people and cattle.

Both sides agreed to solve issues related to goods transport in the hope of raising their two-way trade to more than US$10 million by 2010, promote cultural exchanges and launch activities to celebrate the 55^th anniversary of the establishment of diplomatic relations in 2009.

Mr Triet also announced Vietnam’s decision to donate 1,000 tons of rice to the Mongolian people and sell 20,000 tons of rice to the country at cost price as well as providing ambulances worth US$300,000 instead of a project to build a mini hydroelectric power station as agreed previously.

Mr Triet invited the Mongolian President to visit Vietnam and his invitation was accepted with great pleasure.

After the talks, both leaders witnessed the signing of a Memorandum of Understanding on economic and industrial cooperation between the Vietnamese Ministry of Industry and Trade and the Mongolian Ministry of Foreign Affairs and Trade.

Speaking at a press briefing, President Enkhbayar expressed his belief that Mr Triet’s visit will present a new landmark in the partnership between Vietnam and Mongolia.

Senior leaders from both countries agreed to promote economic, trade and investment cooperation on a par with their political relations while emphasising the need to further enhance bilateral cooperation in culture, education and tourism.

 Mr. Enkhbayar hoped that the Vietnam-Mongolia business forum will provide a good opportunity for businesses to seek new avenues for cooperation in the near future as a contribution to enhancing the ties of friendship and cooperation between the two countries.

Mr Triet said that Vietnam and Mongolia boast great potential for further developing economic, trade and investment relations and that Vietnam is willing to share its experience with Mongolia in mineral exploitation, tourism and agriculture.

Mongolia is Vietnam’s traditional and faithful friend and Vietnam will do its utmost to enhance the bilateral relationship, Mr Triet said.

In the afternoon, State President Triet received the Chairman of the Mongolian Parliament D.Demberel and the first deputy Prime Minister, Norovyn Altanghuyag, briefing them on the outcome of the talks between President Enkhbayar and him.

Mr Triet hoped that the Mongolian Parliament and Government would actively support the expansion of specific areas for cooperation thus increasing two-way trade.

Mr Triet and Mongolian parliamentary and government leaders agreed to step up bilateral cooperation in mineral exploitation, tourism, education and training. From 2004-2008, Vietnam received 42 Mongolian students and is expected to receive 20 more the 2009-2010 academic year.

Later, Mr Triet, his wife and delegation visited secondary school No 14 in Ulan-Bator which was named after late President Ho Chi Minh.

On the occasion, Mr Triet presented the school with 20 computers, 10 printers and US$50,000 to facilitate pupils’ studies.

In the evening, Mongolian President Enkhbayar and his wife gave a banquet in honour of President Triet, his wife and delegation.