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Mongolia, Russia to cooperate in creation of joint venture companies — ex-president

Punsalmaagiyn Ochirbat said that Russia and Mongolia should get back to the experience of creating joint venture companies such as Erdenet Mining Corporation and Mongolrostsvetmet that were opened with Soviet Union’s participation

ULAANBAATAR, February 27. /TASS/. Russia and Mongolia in their strategic cooperation should get back to the experience of creating joint venture companies such as Erdenet Mining Corporation and Mongolrostsvetmet that were opened with Soviet Union’s participation, the first president of Mongolia Punsalmaagiyn Ochirbat said.

"The Soviet-Mongolian enterprises Erdenet and Mongolsovtsvetmet established in the 1970s were an absolutely new, very efficient, original form of cooperation between our countries. Nothing of the kind existed before that. We should resume strategic cooperation in this direction, same as training of staff for Mongolia’s mining sector studying at Soviet universities," he told a conference devoted to the 50th anniversary of the former Russian-Mongolian Mongolrostsvetmet enterprise.

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