Mongolia keen to boost economic ties with Bahrain

Manama : Mongolia could become a key economic partner to Bahrain as the nation is keen to boost ties with the Kingdom, said the Minister of Foreign Affairs of Mongolia Lundeg Purevsuren during his visit to Bahrain.

The visit is significant as it is the first time a Minister of Foreign Affairs of Mongolia is coming to the Kingdom.

In an interview with DT News, he highlighted Mongolia’s desire to form a partnership with Bahrain.

“Bahrain could be a hub for us, besides being a gateway to the Gulf region. Bahrain has a liberal business environment, which is appealing. Mongolia could also become a gateway for Bahrain to East Asia, for its business and industry,” he said.

He invited business people from the Gulf region to invest in Mongolia. 

“Mongolia is an emerging market, and hence whoever comes first has a better chance there,” he said, adding “There is huge demand for investment in infrastructure, apart from investment in energy, financial and tourism sectors.” 

Event at IPI MENA

During his visit, he delivered a speech at an event organised by The International Peace Institute Middle East and North Africa (IPI MENA). The event was part of IPI MENA’s Global Leaders Series and was held at IPI MENA headquarters in Manama. He gave the talk under the theme “Mongolia’s Foreign Policy Initiatives”.

In his speech, he talked about Mongolia’s policy of maintaining balanced relationship with Russia and China, besides the blocs of countries in the East and West. He said his country also plans to expand relations with Asian countries as well as support efforts to expand security cooperation in East, Northeast and Central Asia.

He also highlighted his keenness to continue active cooperation with the United Nations, its specialized agencies and other economic organisations.

“Today Mongolia maintains diplomatic relations with 186 countries, a party to some 270 international treaties and conventions, and a member of 70 international and regional organizations,” he pointed out.

He added, “It gives me great pleasure to recall that on the initiative of Mongolia, the United Nations General Assembly adopted the Declaration on the Rights of People to Peace, the Principles and Guidelines for International Negotiations, resolutions to observe annually a disarmament week, and relevant resolutions on the importance of human resources of the land-locked developing countries,” he said.

The session was chaired by IPI MENA Director Nejib Friji, who stated: “Many analysts and strategists as well as our think tanks in IPI are truly fascinated by Mongolia because of its vast territory, amazing history, unique geostrategic challenges and huge potential.” 

“Mongolia has one of the fastest growing economies in the world. We at IPI MENA are encouraged by working with Mongolia, thanks to a memorandum of understanding for strategic partnership signed with Mongolia’s Ministry in 2013,” he added.