Located in central Asia, most of Mongolia’s territory covers grassland, fields, mountains and hills. Mongolia’s economy is based mainly on mineral exploration and livestock production. It is one of the 10 countries with the world’s richest mineral resources. Since 1990, Mongolia has shifted to the market economy with the private sector contributing 70% of the GDP. In recent years, the two countries’ growth rate has remained at two-digit, and income per capita was more than 3,500 USD last year. Mongolia has established trade relations with 120 countries and territories.

Prime Minister Nguyen Tan Dung held talks with Mongolia's Parliament Speaker Damingiin Demberel during the latter's visit to Vietnam in 2010 (Photo:Chinhphu.vn)

Foundation of traditional friendship

On November 17, 1954, Vietnam and Mongolia established their diplomatic ties marking an important milestone in the history of their relationship. A delegation of the Vietnamese Party and government led by President Ho Chi Minh paid an official visit to Mongolia in July 1955 and in September, 1959, the First Secretary of the Mongolia’s People’s Revolutionary Party visited Vietnam laying the firm foundation for bilateral ties.

In the last 60 years, Vietnam and Mongolia have always supported, assisted and cooperated with each other in their national development. Mongolia strongly supported Vietnam’s anti-US struggle. From 1956 to 1990, Mongolia’s total aids for Vietnam were more than 200,000 USD. Mongolia helped train more than 100 Vietnamese scientists and technicians in livestock production and animal health. Vietnamese people have also sent experts to Mongolia to assist in the transport development, cultivation, house repairs and restoration of historical relics. Vietnam has provided food and finance to help Mongolia to overcome natural disaster aftermaths, eliminate part of trade payment debts and train Mongolian students in various fields.

Enhancing bilateral cooperation

The two countries have maintained the exchanges of visits and meetings between their leaders, ministries and sectors. They have also strengthened cooperation in national defense. Mongolia has always treasured the traditional friendship with Vietnam considering Vietnam an important partner in the Asia-Pacific region.

Last December, the two countries mutually recognized their full market economy status. But, the bilateral economic cooperation has not developed as expected. Two-way trade turnover last year was only 16.3 million USD, down 2.5 million USD against the previous year. The two sides have maintained the mechanism of the Vietnam-Mongolia Inter-governmental Committee, whose 15^th session was held in Hanoi in March this year. At this session, the two sides discussed ways to overcome difficulties in transports, economy, payment capacity and commodity supply and to enhance economic cooperation to raise the trade turnover.

Vietnam and Mongolia have signed an Agreement on Education Cooperation in the 2013-2016 period. Under the agreement, Vietnam trains 15 Mongolian students and Mongolia trains 5 Vietnamese students a year. There are about 20 Vietnamese students studying in Mongolia and more than 50 Mongolian students in Vietnam. Both have also enhanced cooperation in UN forums.

The two countries have continuously assisted each other in their national development. The time-honored relationship is the motivation for the two countries to further enhance bilateral cooperation. The Mongolian President’s visit to Vietnam is part of its external policy in the Asia-Pacific regions aiming at expanding relations with ASEAN countries including Vietnam and furthering Vietnam-Mongolia ties in the near future.