ULAANBAATAR — Viet Nam President Nguyen Minh Triet yesterday wrapped up his two-day visit to Mongolia by urging Vietnamese investors to explore investment opportunities in the north Asian nation.

Triet said this would not only boost two-way trade, but also be a gesture of gratitude to Mongolian people for their war-time support of Viet Nam. The President made the remarks at a bilateral business forum in the Mongolian capital.

He told hundreds of entrepreneurs that present trade and investment was far from the potential of both countries and so more effort should be spent on looking for promising markets.

He suggested the two governments create favourable conditions for business, given the present economic restraints.

Mongolia’s first Deputy Prime Minister Norovyn Altanhuyag said he would like Vietnamese businesses to invest in mining, information technology, infrastructure and agro-products - and particularly on building modern industrial zones.

Yesterday, the two leaders released a joint statement earmarking major agreements they had reached during the visit.

¨ President Triet held talks with President Nambaryn Enkhbayar, National Assembly Chairman Damdin Demberel and Deputy Prime Minister Norovyn Atanhuyag of Mongolia. The two presidents witnessed the signing of a memorandum of understanding on economic and industrial co-operation between Viet Nam’s Ministry of Industry and Trade and Mongolia’s External Relations Ministry.

¨ The two sides acknowledged their traditional relations and said they would expand co-operation to lift the partnership to new heights.

¨ The two sides will encourage their businesses to work in a wide range of fields, namely processing agro-products, producing pharmaceuticals and exploiting minerals.

¨ Apart from a gift of rice to the Mongolian people, Viet Nam offered to sell 20,000 tonnes of rice at production cost and free of interest.

¨ Both sides agreed to stand side by side at international arenas such as the United Nations and at multi-lateral forums that play a significant role in each country’s integration with the world.

¨ Viet Nam backed Mongolia’s efforts to be admitted to regional and world organisations, including the Asia Pacific Economic Co-operation (APEC) forum.

¨ Both sides supported each other so that Mongolia can join the UN Economic and Social Council (ECOSOC) for the 2010-2012 term and Viet Nam can be a member of UNESCO’s executive committee for the 2010-13 term.

Tighter bonds

Excutive Deputy General Director of the Vietnam News Agency Tran Mai Huong and Tugalkhuu Baasansuren, general director of the Mongolia National News Agency agreed that they would co-operate more effectively to enhance their stance in international arenas.

In the short run, the two news agencies will increase the sharing of business news, a move aimed at helping investors from both countries learn more about each country and its business opportunities, and exchange journalists and training opportunities. — VNS