Prime Minister S.Bayar paid an official visit to the Republic of Korea at the invitation of his counterpart Han Seung-soo on October 15-17, 2008.

On October 15, the Premier held talks to exchange views on ways the Mongolian-Korean relations will be extended, on current situation in the Northeast Asian region, on bilateral cooperation on the international arena, and many other matters. The Prime Ministers expressed their satisfaction with the development of the bilateral relations and cooperation in the light of ideas of the good neighborhood friendly partnership in all spheres. The Mongolian side gratefully noted a prominent role of the bilateral collaboration in overcoming difficulties of the transition period; the Korean side confirmed its willingness to advance joint actions.
Top visits realized between the two countries played great roles in strengthening mutual understanding and confidence. The dignitaries agreed to establish mid-term general program of Mongolian-Korean cooperation providing for lines and priority branches to be focused on.
The sides noted unanimously wide possibilities for developing mutually beneficial and complementary economic cooperation between the two countries and agreed to promote joint actions of the two Governments and private sectors for the development of Mongolia's mining industry. Mongolia will study actively an issue on involving Korean companies in program of possessing largest deposits of Mongolia.
Furthermore, the sides agreed to host the first meeting of the joint committee for industry and commerce this year and to intensify joint actions between the Governments.
Ulaanbaatar and Seoul will cooperate in drafting plans to implement goals reflected in the national development strategy of Mongolia.
The sides agreed to conduct a joint research into establishing free trade agreement between the two countries.
Moreover, issues will be studied on revising an air transport agreement and increasing number of regular flights.
The sides expressed satisfaction with launching a project for designing a master-plan of East Mongolian agricultural development and agreed to cooperate actively for its development.
 In 2009, Mongolia and the Republic of Korea will co-host a joint meeting on water resources.
The sides also agreed to organize Year of the Republic of Korea in Mongolia in 2010 and Year of Mongolia in the Republic of Korea in 2011 on the occasion of the 20th anniversary of Mongolian-Korean diplomatic relations.               
The Mongolian side extended gratitude for increasing a number of Mongolian students to be involved in scholarship programs.
The sides reached a principal a willingness to cooperate closely for the peace, security, and prosperity in Northeast Asia. Mongolia, who promotes efforts the Government of the Republic of Korea is undertaking to maintain peace, stability, and economic cooperation between the two Koreas, expressed a hope that North Korea's nuclear problem will be settled shortly in the light of six-party talks by diplomatic and peaceful means. The Korean side understands a position of Mongolia's Government that strives for participation in multilateral regional cooperation.
The sides concluded a Mongolian-Korean agreement on rendering mutual legal assistance in civil and commercial affairs, memorandum on export of work forces to the Republic of Korea between the Ministry of Social Welfare and Labor of Mongolia and the Ministry of Labor of RK, and a memorandum on cooperation in the energy sector between the Ministry of Minerals and Energy of Mongolia and the Korea District Heating Corporation.

 

Source: Montsame