Ulaanbaatar
Mongolia, Russia Sign MoU to Deepen Financial Cooperation
Politics
Ulaanbaatar, November 24, 2025 /MONTSAME/. Minister of Finance of Mongolia Javkhlan Bold and Minister of Finance of the Russian Federation Anton Siluanov signed a Memorandum of Understanding to strengthen bilateral cooperation in the financial sector during the Shanghai Cooperation Organization (SCO) Meeting of Heads of Government in Moscow on November 18, 2025.
Minister
Siluanov expressed Russia’s readiness to deepen cooperation with Mongolia in
the financial sector, highlighting opportunities for joint initiatives such as
digitizing the budget planning and approval process and applying artificial
intelligence (AI) in public financial management. He noted that Russia is
prepared to share its institutional expertise in these areas, drawing on
experience from similar partnerships with other countries.
Minister Javkhlan reaffirmed Mongolia’s interest in
exchanging expertise on digital budgeting and AI-driven fiscal tools, while
underscoring the country’s commitment to advancing financial market reforms
through international cooperation.
A Memorandum of Understanding was signed to formalize cooperation in the
identified priority areas. The two sides also reiterated their commitment to
carrying out the agreements established at the ministerial and
head-of-government levels between Mongolia and the Russian Federation.
Beyond fiscal modernization, the ministers agreed to promote mutual development in tourism, simplify cross-border payment systems, and enhance trade flows. Discussions also covered strategic aspects of financial cooperation, such as facilitating joint investment projects and enhancing collaboration with international financial institutions.
