ExclusiveAs Mongolia diversifies economy away from single markets like China, prime minister courts global investors
- Mongolian Prime Minister Luvsannamsrai Oyun-Erdene calls on superpowers US and China to take a greater lead in terms of a global economic recovery and environmental concerns
- ‘Rivalry between countries because of their differences does not really impact the livelihoods of regular citizens’, Oyun-Erdene says
Mongolia’s prime minister says the country is “in discussions” to diversify its economy and be less dependent on a single market, while calling on China and the US to shoulder the bulk share of the responsibility in addressing global issues – from climate change to the post-pandemic recovery.
Against the backdrop of economic-revitalisation efforts and geopolitical uncertainties, Luvsannamsrai Oyun-Erdene sat down with the Post recently at his office in the nation’s capital, Ulaanbaatar, as part of a series of one-on-one media interviews.
“We’re open to cooperating with all the countries around the world, and with all the investors, and we’re open and ready to do business with them,” the head of the Mongolian government declared.
“We’re in discussions with several other international partners for further cooperation, including the EU and member countries such as France and Germany, as well as with Japan and South Korea.”
Sandwiched between China and Russia, the world’s second-largest landlocked country paved its own democratic path over the past three decades after the fall of the Soviet Union, which had been a strong ally.
At 42, Oyun-Erdene is one of the younger leaders in a country where he says almost 65 per cent of the population is under the age of 40. He lived through and remembers the country’s “democratic transition”.
Geopolitically, that has put Mongolia in a precarious position. Oyun-Erdene touched on why it is a fine balancing act from a diplomatic and trade standpoint.
He said the “main principle” to employ when navigating bilateral relations is embracing a policy of mutual understanding and respect for all countries, with an eye on safeguarding peace when the world is tested by climate change, famine and poverty.