TS.ELBEGDORJ MEETS PM OF NORWAY

Ulaanbaatar, Mongolia /MONTSAME/ In frames of the official visit, the President of Mongolia Ts.Elbegdorj has held a meeting with Mr Jens Stoltenberg, the Prime Minister of Norway. Mr Elbegdorj spoke about present socio-economic and political situation in Mongolia and said he is interested in the Norwegian experience in forming a pension fund from mining revenues with a participation of state-owned companies. He added that another experience is interesting regarding a renewable energy sector and hydropower station. Mr Stoltenberg said his country discovered undersea oil and natural gas deposits in 1960-1970s and let state-owned companies put the mineral deposits into economic circulation, starting the extraction. “In Norway, the largest companies are owned by the state. Despite their risk of getting under political influence and a corruption, Norway successfully made the mineral resources its developmental lever, overcoming difficulties thanks to ensuring high responsibility and transparency,” Mr Stoltenberg underlined. He said Norway is ready to share experience with Mongolia in all spheres, hoping that Mongolia will accelerate its development by overcoming challenges and difficulties. After the meeting, the State Head and the Norway's Premier called a news conference. Mr Stoltenberg expressed confidence that the visit of the Mongolian President, held for the first time in Norway, will significantly contribute to the bilateral relations. He said the sides intend to exchange views on ways of developing the relations and cooperation as well as human rights and democracy. The leader of Mongolia Elbegdorj noted that his visit has been successful and expressed a wilingness to study Norway's experience in exploitation of mineral resources for distributing revenues to people. Especially interesting is how Norway regulates a legal environment, he added and said our countries can cooperate in the hydropower station and renewable energy spheres. B.Khuder