India announced a $1 billion credit line to Mongolia for infrastructure development as the two countries upgraded their ties to “Strategic Partnership” and agreed to deepen defence cooperation besides exploring potential for tie ups in areas like the civil nuclear sector.
Prime Minister Narendra Modi, who was on a two-day visit to Mongolia, the first ever by an Indian Premier, held wide-ranging discussions with his Mongolian counterpart Chimed Saikhanbileg and the two leaders pledged to take bilateral economic partnership to a new level.
“I am pleased to announce that India will provide a Line of Credit of $ 1 billion to support expansion of Mongolia's economic capacity and infrastructure,” Modi said at a joint press interaction with Saikhanbileg at the State Palace.
“Today, Mongolia is also an integral part of India's Act East Policy,” Modi said. “The destinies of India and Mongolia are closely linked with the future of Asia Pacific region. We can work together to help advance peace, stability and prosperity in this region,” Modi said, pitching for close bilateral ties amid China's push for increasing its regional influence. After their talks, the two Prime Ministers signed a joint statement committing to further consolidate bilateral ties and upgrade the comprehensive partnership to “strategic partnership” and agreed to renew their Treaty of Friendly Relations and Cooperation.
Sign 14 agreements
The two countries also signed 14 agreements. Earlier in the day, Modi visited the Gandantegchinlen monastery, where he interacted with the Hamba Lama and gifted him a sapling of a Bodhi tree. This was followed by a ceremonial welcome that was accorded to him at the Mongolian State Palace at the Chinggis Khaan Square, where he also signed the guest book. Modi later addressed the Mongolian Parliament, the first foreign leader to address the members on Sunday, a holiday. He also called on Mongolian President Tsakhiagiin Elbegdorj and laid the foundation stone of the IT centre at the Mongolian University of Science and Technology.
Prime Minister Modi, who arrived in Ulaanbaatar on Saturday night, is the first Indian prime minister to visit Mongolia.
Agreements to deepen cooperation: Modi
Modi said that the agreements between the two countries would deepen their cooperation in border security and cyber security. "We attach high importance to our security cooperation. We will continue to participate in each other's defence exercises. The agreements will deepen our cooperation in border security and cyber security. Cooperation between National Security Councils will provide a strategic framework for cooperation. We have also agreed that India will help establish a cyber security centre in Mongolia's defence and security establishment," Prime Minister Modi said, after he and his Mongolian counterpart Chimed Saikhanbileg witnessed the signing of agreements between the two nations.
