India on Sunday announced a $1 billion credit line to Mongolia for infrastructure development as they 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, the first-ever Indian Premier to visit Mongolia , held wide-ranging discussions with his Mongolian counterpart Chimed Saikhanbileg and the two leaders pledged to take bilateral economic partnership to a new level. On the second leg of his three-nation tour, Modi is on a two-day visit to Mongolia and will leave for South Korea on Monday from here.
“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 here. “Today, Mongolia is also an integral part of India’s Act East Policy,” he 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.
The two sides inked 13 other pacts that include enhancing cooperation in border security, policing and surveillance, air services, cyber security and new and renewable energy.
later, at a banquet hosted in his honour, Modi said, “Ours is a relationship that is not measured on the scale of commerce or driven by competition against others. It is a relationship of immeasurable positive energy that comes from our spiritual links and shared ideals. So, as we celebrate 25 years of democracy in Mongolia and 60 years of our diplomatic relations, we know that the best for relationship lies ahead of us.”
Modi also called on President Tsakhiagiin Elbegdorj and discussed bilateral ties and issues of mutual interests. India and Mongolia support the evolution of open, balanced and inclusive security architecture in the Asia Pacific region based on collected efforts, considering legitimate interests of all states of the region guided by respect for norms and principles of international law, the joint statement said.
After signing the agreements, Modi said, "I was very pleased with my discussions with the Prime Minister. We have strong convergence of views on bilateral relations and our regional and international partnership. The agreements that we have just signed speak to the depth of the relationship. These cover economic relations, development partnership, Defence and security, and people-to-people contacts."
With Mongolia's rich mineral deposits in mind, India asked the country to partner in its economic transformation while vowing to step up bilateral trade and investment.
"The two Prime Ministers agreed to encourage development of equal and mutually beneficial trade, investment and economic cooperation, which is balanced, sustainable, and leads to prosperity in both countries," the joint statement said.
"India will continue to support Mongolia's endeavour to create a business-friendly foreign investment regime," it said. During their talks, the two Prime Ministers agreed to encourage Indian companies to further explore cooperation opportunities in Mongolia's mining sector through joint ventures and investment.
Modi and Saikhanbileg also noted the intensified cooperation in civil nuclear domain, such as societal and industrial applications of radioisotopes, exploration and mining of radioactive minerals in Mongolia, and human resource development.
"Prime Minister of India welcomed Mongolia to partner in India's economic transformation and noted that Mongolia's rich mineral deposits, including radioactive minerals, could help power India's low-carbon growth, while helping Mongolia in developing indigenous capabilities and economic opportunities in the mining sector," the joint statement said.
The two sides asked the Joint Working Group established between their atomic energy establishments to explore opportunities for future collaborative actions in the spirit of mutual benefit.
Modi, while speaking at the banquet hosted in his honour by Saikhanbileg, said the "ancient relationship" between the two countries has got new strength and momentum. Modi said ties between India and Mongolia are not driven by competition against others but it is a relationship of immeasurable positive energy that comes from their spiritual links and shared ideals.
"This is a memorable day for India, for my delegation and me. In less than 24 hours, we have experienced true friendship. We have seen rare grace and generosity of a great people. We have experienced the beauty of your land," Modi said at the dinner.
"We have nurtured our spiritual links. The visit to the Ganden Monastery will be a source of joy forever. We have soaked in the richness of your culture at the mini-Naadam festival," he said.
India and Mongolia also came out strongly against the "double standards" and "selectivity" of the international community in dealing with terrorism and hoped that all safe havens and sanctuaries for terrorists will be wiped out without delay.
"Both Prime Ministers noted that the nature and spread of international terrorism in recent years poses a threat to all humanity and requires global resolve and cooperative measures of the international community without double standards or selectivity," said the joint statement.
"The Prime Ministers expressed hope that all safe havens and sanctuaries for terrorists will be wiped out without delay," the statement added.
At a joint Press meet with the Mongolian premier after bilateral talks 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," he said.
He said a cyber security centre will be established for Mongolia's Defence sector and announced the establishment of 'India Mongolia Joint School' in Ulan Bator.
"We can seize the economic opportunities of the digital world and work together to make it more secure against growing cyber threats," he said. "At a time when the global economy remains weak, the world speaks in one voice that India is the bright spot of hope to become the new locomotive for global economic momentum," Modi said.
He said that in less than a year, India's growth has rebounded to 7.5 per cent and it has emerged as one of the fastest growing major economies in the world and it has the potential to grow even faster. "As the Indian economy adds strength to our region and the world, it will also benefit Mongolia," he said.
Describing Mongolia's economic growth as impressive, Modi said, "Our bilateral ties will also grow, despite the distance and demands of geography." The Indian Prime Minister gifted Mongolia a Bhabhatron, the indigenous machine developed by Indian scientists for cancer treatment, in the first demonstration of bilateral cooperation in the civil nuclear sector.
Modi drove down to the National Cancer Centre here and gifted the centre the equipment to boost cancer care. "It is state-of-art nuclear medicine cancer therapy machine, developed and manufactured in India," he said about the machine developed by the Bhabha Atomic Research Centre.
Earlier in the day, while addressing the country's Parliament, Modi said the Bhabhatron equipment "can help treat cancer in Mongolia. This will be the first demonstration of our cooperation in the civil nuclear sector".