Mongolia. In its quest to exploit its potentially vast
natural resources to eradicate poverty, Mongolia is taking a
cautious balance between powerful neighboring countries and
allies, a situation where it is important to stay well with
governments of various kinds.
In the final of the tender competition to develop the
giant coal field Tavan Tolgoi in the Gobi desert, one of the
world's largest coal deposits, participated an American and
a Chinese company and a Russian-Mongolian consortium.
Countryaah official site, the
government said even a South Korean company could be
Shortly after President Tsachiagijn Elbegdorj visited
Moscow and had discussions with both President Dmitry
Medvedev and Prime Minister Vladimir Putin, he traveled to
the United States, where he was welcomed by President Barack
Obama. Elbegdorj promised US companies to participate in the
development of the Mongolian mineral sector. The same day
the two heads of state met in Washington was the Mongolian
prime minister in Beijing, where he was promised a loan of
half a billion US dollars and Chinese support to the mineral
and energy sectors in Mongolia.
Elbegdorj and Obama also discussed their common interest
in a global work for democracy and human rights. Mongolia's
past as a Communist satellite state to the Soviet Union has
not facilitated modernization, but the country's governments
have managed to hold on to a democratic line.
In July, Mongolia assumed the presidency of the
international association Community of Democracies, founded
in 2000 and in which Sweden also participates.