Prime Minister to pay a visit to South Korea

The American Chamber of Commerce in Mongolia

2018-01-10 15:01 GMT+8

Prime Minister U. Khurelsukh will pay a visit to South Korea from January 15 to 17. The visit will be his first official foreign visit since taking office. The main purpose of the visit is to strengthen comprehensive partnership relations between the two nations.

The PM is expected to hold discussions on ensuring political trust, expanding trade, investment, soft loans, grants, and reducing requirements set for travel.

Mongolia and South Korea are planning to establish a free-trade agreement as a part of comprehensive partnership relations. The Mongolian Ministry of Foreign Affairs has reported that a study on establishing a free-trade agreement is in its final phase.

As of November 2017, foreign trade turnover between the two countries reached 189 million USD. Exports to South Korea increased by 2.7 million USD in 2017, reaching 10 million USD, while imports decreased by 0.6 million USD, falling to 179 million USD.

During the visit, the Premier will meet President of South Korea Moon Jae-in and hold discussions with his counterpart, Lee Nak-yeon. The Mongolian Prime Minister is expected to present an outline of Mongolia's current economic status and his cabinet’s plans for the future during a Korea-Mongolia business forum.

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