UAE EMBASSY WILL OPEN IN ULAANBAATAR

Ulaanbaatar /MONTSAME/ The cabinet meeting on Monday discussed results of the working visit of Ch.Saikhanbileg PM to the United Arab Emirates on May 19-20, 2015, and then obliged the Foreign Minister L.Purevsuren to submit the issue to the National Security Council (NSC). During the visit, the sides touched upon several vital issues related to the bilateral relations, such as mutually protecting and supporting investments, preventing duplicated income taxes and establishing the air ties, and then finally concurred to open the UAE Embassy in Ulaanbaatar. In addition, a memorandum of mutual understanding has been signed by Kh.Gantsogt, the State Secretary of the Finance Ministry with the CIB Group to create an investment fund of up to USD 1 billion for financing the biggest projects on great constructions. The UAE’s side has expressed its readiness to make investments to the mining and infrastructure sectors in Mongolia, to collaborate in agricultural sphere and to buy mutton of Mongolian sheep. Moreover, the UAE has said it is possible to establish ties between the law enforcement bodies and to involve Mongolian staffers in short and middle-term mid-career training.