Mongolia, North Korea sign economic accords

BloombergHONG KONG (Bloomberg)—North Korea and Mongolia signed a series of agreements to step up cooperation in a move that could help ease the two former Soviet allies’ economic reliance on China.
The agreements were signed Monday hours after Mongolian President Tsakhia Elbegdorj arrived in Pyongyang to become the first head of state to visit since Kim Jong Un became supreme leader in December 2011. The accords covered cooperation in industry, agriculture, sports, culture and tourism, the official Korean Central News Agency said. It did not provide details.
“North Korea and Mongolia are particularly reliant on China,” Charles Krusekopf, head of the American Center for Mongolian Studies, said by phone from Victoria, Canada. “Mongolia is looking for outlets to the sea to export minerals, coal and energy resources. There are a lot of people talking about potential for Mongolian resources to be shipped through North Korean ports to world markets.”
Mongolia, a nation of 2.9 million people squeezed between Russia and China, adopted democracy and free elections in 1990, and moved to welcome foreign trade by offering access to its mineral riches. North Korea has been reaching out to friendly nations such as Mongolia and Indonesia as international sanctions over its nuclear weapons program have limited trade and hobbled the economy.
In June, HBOil JSC, an oil trading and refining company in Ulan Bator said it acquired a 20 percent stake in the Sungri refinery in the North Korea’s northeastern free trade zone of Rason.
Sungri has a refining capacity of 2 million tons a year and is connected to the Russian railway systems, HBOil said in a release. In September, Russia completed a 54-kilometer rail link between Khasan in its southeastern corner and a rebuilt North Korean port in Rason.
“I am sure that the [North] Korean people will successfully achieve prosperity and progress of the country, their happiness and regional peace and stability in close cooperation with the international community,” KCNA reported Elbegdorj saying at an official banquet in Pyongyang.
In September last year, after meeting with the visiting chief of North Korea’s parliament, Elbegdorj pledged to help the new North Korean leader pursue economic reform, offering his nation’s experience of moving toward capitalism.
North Korea and Mongolia first set up diplomatic relations in 1948, the year the North was founded. The relationship between the two countries dates back to 1939 when North Korean founder Kim Il Sung joined Mongolian-Soviet forces in fighting the Japanese, Song Byeong Gu, a professor of Mongolian studies at Dankook University outside Seoul, wrote in a paper in April.
North Korea cut its ties with Mongolia in protest when then South Korean President Kim Dae Jung visited Mongolia in 1999. The sides reestablished ties when North Korea’s foreign minister visited Mongolia in 2002.
Mongolia sees its national security guaranteed better if it maintains neutral relations with both Koreas and major powers such as China, Russia, Japan and the United States, Song wrote.

Source:Bloomberg
Share:

0 comments:

Post a Comment

Facebook page

Powered by Blogger.

Categories

Advertising in Mongolia An Culture Editorial of the Mongolianviews education Environmental protection Famous Mongolians Foreigners in Mongolia Inner Mongolia Ivanhoe Mines Mongolia agriculture Mongolia analysis Mongolia and Australia Mongolia and Belorussia Mongolia and Cambodia Mongolia and Canada Mongolia and central Asia Mongolia and China Mongolia and Cuba Mongolia and EU Mongolia and Germany Mongolia and Hongkong Mongolia and Hungary Mongolia and India Mongolia and Inner Mongolia Mongolia and Iran Mongolia and Italy Mongolia and Japan Mongolia and Kazakhstan Mongolia and Korea Mongolia and Kuwait Mongolia and Malaysia Mongolia and Nato Mongolia and North Korean Mongolia and Poland Mongolia and Russia Mongolia and Singapore Mongolia and South Korea Mongolia and Taiwan Mongolia and the world Mongolia and Tibet Mongolia and Turkey Mongolia and UK Mongolia and Ukraine Mongolia and UN Mongolia and USA Mongolia and Vietnam Mongolia Banking Mongolia civic society Mongolia crime Mongolia diplomacy Mongolia Economy Mongolia Education Mongolia Energy Mongolia Finance Mongolia Health Mongolia History Mongolia holiday Mongolia in international media Mongolia Industries Mongolia Joke Mongolia law Mongolia LGBT Mongolia medical Mongolia military Mongolia Mining Mongolia Mining Developments Mongolia Mortgage Mongolia natural disaster Mongolia Petroleum Mongolia public announcements Mongolia railways Mongolia Religion Mongolia society Mongolia Sports Mongolia Stamp Mongolia telecommunication Mongolia tourism Mongolia Urbanization Mongolia Wild Life Mongolian Agriculture Mongolian Archeology Mongolian Food Mongolian Gay Mongolian Government news Mongolian History Mongolian Military Mongolian Mining Development Mongolian Movie Mongolian News Mongolian Parliament Mongolian Political news Mongolian Press Mongolian Songs Mongolian Women Mongolian Youth Mongolians abroad Moninfo Opinion Oyu Tolgoi Investment Agreement Photo news Press Release Rio Tinto Tavan Tolgoi coal mine Ulaanbaatar development Weird expatriates in Mongolia

Blog Archive

Followers

Live Traffic