Lithuania is a good example to Mongolia in its own attempts to transform its economy, Mongolia's president said on June 27.
"Lithuania was very successful in boosting its economic growth. It has completed privatization with success and now is a country with a stable economy, which is very attractive to investors," Natsagyn Bagabandy told a news conference at the start of a visit of the three Baltic states.
"This could be a good lesson for us," he said.
Bagabandy, who becomes the first Mongolian head of state to visit Lithuania, discussed boosting economic relations and how Lithuania could help transform Mongolia's economy at a meeting with his Lithuanian counterpart Rolandas Paksas.
"In today's times of globalization, distances have no major importance for cooperation," Paksas said.
He urged Mongolia to use Lithuania's Baltic port of Klaipeda as a gateway to northern Europe and invited Mongolian businessmen to invest in Lithuania.
Bagabandy said Mongolia was interested in the development of Lithuania's agriculture sector and said he expected that the Baltic country could "act as a transit point for Mongolian exports."
A bilateral treaty aimed at encouraging investment and an agreement on cooperation in education, science and culture was signed during the visit.