Source: TRADINGROOM.COM
February 22, 2011

Australia is boosting its trade and business links with booming Mongolia.

Prime Minister Julia Gillard met with her Mongolian counterpart Sukhbaataryn Batbold in Canberra on Thursday for talks that canvassed mining, agriculture, education and regional security.

Ms Gillard announced the government would establish an Austrade office in the Mongolian capital Ulaanbaatar later this year to help Australian companies already on the ground and prospective Australian exporters and investors.

“We are both great mining nations,” Ms Gillard told reporters.

“We share great mineral wealth.

“Indeed, Mongolia has a rapidly growing economy and some of the world’s richest known deposits of gold, copper, uranium, coal and rare earths.”

Mr Batbold’s visit was the first by a Mongolian leader in almost 40 years of diplomatic relations.

The leaders also discussed education, natural disasters and the war in Afghanistan.

They signed four bilateral agreements on education, agriculture, science and governance.

Ms Gillard also announced $1.5 million in aid to help Mongolia with water sanitation and children with disabilities.

Ms Gillard will try to visit Mongolia in the future.

By Adam Gartrell, AAP Diplomatic Correspondent