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Investment program of Mongolian economic development to be worked out

ASTANA. August 14. KAZINFORM /Dina Yermaganbetova/ - “Kazakhstan is ready to render support to the development of Mongolia’s economy”, Head of the State Nursultan Nazarbayev has stated today at a press conference upon the results of the talks with the Mongolian President. According to official figures, Kazakhstan’s investments to Mongolia amounted to USD 3.7 million in 2006. The Kazakh leader noted that the business forum held within the framework of the visit of the Mongolia’s President to Kazakhstan would open new opportunities for the development of bilateral cooperation. In his turn Nambaryn Enkhbayar emphasized that during the negotiations an agreement on development of the investment program of the Mongolian economic development was reached. The two parties agreed on the supply of Kazakhstan’s crude oil to Mongolia, expansion of import of the Mongolia’s meat and agricultural products to Kazakhstan. For five months the volume of bilateral trade amounted to USD 12.9 mln. 10 joint enterprises are registered in Kazakhstan and 17 in Mongolia in the current time.


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