Australia seeking cooperation in production of final mining products

2018-06-29 16:36:00
Ulaanbaatar /MONTSAME/ Chair of Subcommittee on Budget Expenditure Control, MP Z.Narantuya received Ambassador Extraordinary and Plenipotentiary of Australia to Mongolia John Langtry at his request.

Mr. Ambassador said the Australian Government is interested in expanding cooperation with Mongolia in the mining sector, especially in establishing and developing mining raw materials-based plants of manufacturing final products that have not yet developed in Mongolia and introduced Cassandra Winzenried, Senior Economist at Efic, a major Australia's export finance agency. Efic, which invested USD 150 million in the Oyu Tolgoi project, have come to Mongolia in order to learn more about Mongolian economic condition and progress of their investment.

MP Z.Narantuya informed the guests of stabilizing general macroeconomic indicators of Mongolia and increase in budget revenue and her concern with the rapid rise in foreign loans and unaltered mining-dependent economy apart from certain outcomes of the Extended Fund Facility (EFF) program jointly implemented with the IMF. She also mentioned that efficient implementation of the major projects is one of the key issues for the Government of Mongolia to solve and the parliament is currently discussing measures to implement the Erdenes Tavan Tolgoi project.
MP expressed her hope that Parliament's examination will be effective, accurate, and realistic as the member of the working group.
Related news