Prime Minister Narendra Modi departed for South Korea on Monday morning after concluding a successful visit to Mongolia.
During his visit, the Prime Minister announced that India would extend Ulaanbaatar with a line of credit of USD one billion develop institutions, infrastructure and human resources in Mongolia. The two sides also decided to elevate their ties to the level of ‘strategic partnership’, with Prime Minister Modi and his counterpart Chimed Saikhanbileg agreeing to intensify bilateral defence and security cooperation as well to encourage the development of mutually beneficial trade, investment and economic cooperation.
New Delhi and Ulaanbaatar also signed 13 agreements to strengthen bilateral their ties, with Prime Minister Modi stating that Mongolia is an integral part of India’s ‘Act East’ policy.
Prime Minister Modi, who dubbed his visit to Ulaanbaatar as a ‘significant milestone’, is the first Indian prime minister to visit Mongolia. (ANI)