At the 12th session of Vietnam-Mongolia Intergovernmental Committee held in Ulan Bator in Mongolia, delegates of Vietnamese Ministry of Trade and Mongolian Ministry of Industry and Trade stressed the need for signing MoU between both ministries to raise bilateral trade to $5 million in future.
It was unanimously agreed that Mongolia must export semi-processed leather, wool and traditional items to Vietnam and import vegetable oil and consumer goods, with Vietnam's active co-operation.
Scope of trade, economic and scientific-technological collaboration for both countries between 2006 and 2008 were discussed in the session.
Suggestions for improving assistance in infrastructure development, cultivation, tourism, education, science and technology were given by delegates. Proposals to set up timber processing and wood ventures for export purpose were also considered.
Bui Ba Bong, Deputy Minister of Agriculture and Rural Development headed the Vietnamese delegation while Tsegmid Tsengel, Minister of Roads, Transportation and Tourism led the Mongolian one.
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