India Seeks Russia's Support in Importing Mongolian Coking Coal
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The signing of India-Mongolia MoU in Geology and Mineral Resources marks a "new chapter" in bilateral cooperation, paving the way for technological exchange, and the sharing of expertise, a joint statement said.
India is involved in talks with Russia and Mongolia to work out a way to import Mongolian coking coal to the Indian market amid rising demand for the domestic steel industry.
An India-Mongolia Joint Statement released late on Tuesday evening said that India and Mongolia were seeking new transport and logistics linkages to expand bilateral trade and economic cooperation.
An India-Mongolia Joint Statement released late on Tuesday evening said that India and Mongolia were seeking new transport and logistics linkages to expand bilateral trade and economic cooperation.
“In this context, they agreed on the value of jointly exploring the potential of third-country ports and transport corridors, exchanging experiences in road and rail connectivity, and further enhancing cooperation by examining possibilities for establishing regular direct flights and increasing transit services between the two countries,” it said.
P Kumaran, Secretary (East) at India’s Ministry of External Affairs (MEA), told a media briefing in New Delhi that India is negotiating with Russia and Mongolia in an effort to bring Mongolian coal through the Trans-Siberian Railway to Vladivostok, from where it could be exported to Indian ports.
On Tuesday, Prime Minister Narendra Modi and Mongolian President Khurelsukh Ukhnaa witnessed the signing of 10 MoUs after wide-ranging talks across various sectors, including trade and economic, development, defence, capacity-building, renewable, minerals and energy among others.
Under the MoU on Cooperation in Geology and Mineral Resources, both sides agreed to lay the groundwork for collaboration in exporting Mongolia's key mineral resources to the Indian market, including coking coal and copper.
Last November, India’s Ports and Shipping Minister stated that the Chennai-Vladivostok corridor had become “fully operational”.
On Tuesday, Prime Minister Narendra Modi and Mongolian President Khurelsukh Ukhnaa witnessed the signing of 10 MoUs after wide-ranging talks across various sectors, including trade and economic, development, defence, capacity-building, renewable, minerals and energy among others.
Under the MoU on Cooperation in Geology and Mineral Resources, both sides agreed to lay the groundwork for collaboration in exporting Mongolia's key mineral resources to the Indian market, including coking coal and copper.
Last November, India’s Ports and Shipping Minister stated that the Chennai-Vladivostok corridor had become “fully operational”.
