ULAN-BATOR, June 27 (Itar-Tass) - The incumbent and current president of Mongolia, Tsakhiagiin Elbegdorj, who has won the presidential election on Wednesday, has assured his electorate on Thursday that he will dedicate his activities in the presidential post to the people and will meet all their needs and aspirations.

He highly appreciated the presidential election, saying it was democratic and just. Elbegdorj Tsakhiagiin thanked the people for their support. One of the candidates for the presidential post was a wrestler, and a candidature of a woman was also nominated for the presidency, he said. All this was possible thanks to the democracy and the people, Elbegdorj Tsakhiagiin declared at a meeting of his supporters in Sukhe Bator.

Speaking to Itar-Tass, the president said that Russia and Mongolia should develop cooperation in economics and investments, which is of mutual advantage to both countries.

The 50-year-old Elbegdorj Tsakhiagiin received higher education at Harvard University. He was a leader of the anti-communist movement in the early 1990th; he was first elected president in 2009.

A mission of OSCE observers worked in Mongolia during the presidential election. Representatives of 34 countries, including Russia, the United States, Sweden, Canada, Germany, South Korea, Kyrgyzstan, Hungary, France, Bulgaria, Denmark, Norway, Switzerland monitored the election in Mongolia.

"As the observers we have found no violations; everything conformed to the generally acknowledged election procedure,"said Chairman of the Russian Central Election Commission Vladimir Churov, who headed a group of Russian observers.