Ulaanbaatar /MONTSAME/ On October 7, Speaker of the Parliament G.Zandanshatar attended the 23^rd Eurasian Economic Summit virtually, which is taking place in Istanbul, Turkey and delivered remarks. More than 40 delegates including heads of state and Governments of Asian and European countries, ministers, members of parliament, former presidents and prime ministers are participating in the two-day summit

In his remarks addressed at the session themed “The new balance of power in globalization: The importance of diplomacy and economic security”, Speaker of the Parliament G.Zandanshatar emphasized that Managing Director of the International Monetary Fund Kristalina Georgieva claimed that by the time the pandemic is over, half of the world’s population of 7.8 billion could be living in poverty. Countries are facing the necessity to develop cooperation in strengthening global solidarity for the fight against the pandemic, putting an end to discrimination, mutually sharing their scientific knowledge, renewing multilateral cooperation, and reviving the economy. Even though Mongolia has no local transmission of coronavirus and no recorded case of death, we are facing big challenge to seek new methods and solutions on how to revive social and economic development in this time when citizens’ livelihood and the country’s development trend have been changed completely.

Within the framework of the policy to overcome socio-economic difficulties caused by the pandemic, the Government of Mongolia is taking complex measures to encourage citizens and business entities, support and intensify export, reduce budget expenditure, and increase financial resources with a view to ensure its economic reliability.  

Furthermore, the country is giving priority in external economic relations and maintaining a policy to diversify and boost the export, protect foreign investors’ interest steadily and draw foreign investment in economic priority sectors such as infrastructure, mining, energy, food, agriculture, tourism and in mega projects.

Mongolia is also willing to be an active participant in Eurasian regional economic cooperation. And the country set a goal to establish economic corridor of three countries in collaboration with Russia and China, build economy targeted to the third neighbors, join regional economic and trade integration, facilitate trade as well as to become a competitive Northeast Asian investment hub. All the steps target to ensure economic reliability of Mongolia.

Noting the significance of diplomatic activities in this difficult time and in the future, Speaker G.Zandanshatar wished success to the virtual meeting.