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Kyrgyzstan and Mongolia plan to cooperate in deposit protection and insurance

The head of the Cabinet of Ministers of Kyrgyzstan, Akylbek Japarov, held talks with the Chairman of the Great Khural of Mongolia, Gombojav Zandanshatar, who arrived in Bishkek for an official visit.

The parties discussed a wide range of issues of bilateral cooperation in trade, economic, transport, mining, industrial, tourism, environmental, cultural and humanitarian spheres.

Akylbek Japarov focused on the possibility of increasing mutual trade turnover in terms of supplies of domestic organic agricultural products of the Kyrgyz Republic to Mongolia.

Discussing issues of cooperation in the field of light industry, he emphasized that the textile and garment industries are priority sectors, and therefore Kyrgyzstan is ready to use Mongolia’s experience in this area to promote domestic products on the markets of not only neighboring countries, but also near and far abroad.

The parties also discussed issues of cooperation in the tourism sector. An agreement was reached to intensify cooperation with Mongolia in the field of tourism, including the exchange of experience, organization of joint events and implementation of joint investment projects.

Gombojav Zandanshatar noted the positive dynamics in relations between the countries and emphasized the importance of holding the next meeting of the intergovernmental commission on trade, economic, cultural and humanitarian cooperation in the near future.

He voiced the Mongolian side’s support for Kyrgyzstan’s accession to the multilateral agreement on international transportation along the Asian road network and emphasized that this would be a positive development in the transport, logistics and trade spheres of cooperation, both bilateral and multilateral. Regarding the expansion of cultural and humanitarian cooperation, the Mongolian speaker expressed interest in interaction within the framework of the World Nomad Games, focusing on the common cultures and history of the two countries.

The parties also signed a number of documents:

  • Memorandum of Understanding between the National Bank of the Kyrgyz Republic and the Bank of Mongolia:
  • Memorandum of Understanding between the National Bank of the Kyrgyz Republic and the Financial Regulatory Commission of Mongolia;
  • Memorandum of Understanding on cooperation between Kyrgyzaltyn OJSC and the Bank of Mongolia;
  • Memorandum of Understanding on cooperation in the field of veterinary between the Veterinary Service of the Kyrgyz Republic and the General Directorate of Veterinary Medicine under the Government of Mongolia;
  • Memorandum of Understanding on bilateral cooperation between the Deposit Protection Agency of the Kyrgyz Republic and the Deposit Insurance Corporation of Mongolia.
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