By RIA Novosti
Moscow : Mongolian Prime Minister Sanjaa Bayar arrives in Moscow on Thursday for a three-day visit to hold talks with the country’s leadership and sign a number of bilateral documents.
Bayar is expected to meet with his Russian counterpart Viktor Zubkov and Russian Agriculture Minister Alexei Gordeyev, who chairs the Russian-Mongolian intergovernmental commission.
Bilateral talks are expected to focus on cooperation in trade and military modernization.
Bilateral trade has been growing steadily between Russia and Mongolia in the past few years. Last year, Russian-Mongolian trade reached $677 million, up 28.3% against 2006. Russian exports to Mongolia increased 28.4%, and imports rose 28.2% in 2007.
Russia is Mongolia’s second-largest economic partner after China. Last year, Russia mostly exported to Mongolia oil and mineral products, food, agricultural raw materials, vehicles, equipment and chemicals.
Mongolia exports mineral products, meat and meat products, cars, equipment, vehicles and consumer goods.
Russia invested over $2.2 million in Mongolia last year, against $500,000 in 2006. Mongolian investment reached around $7 million in Russia in 2007.