Prime Minister U.Khurelsukh held a meeting with new Russian Minister of Industry and Trade Denis Manturov at the State Palace on June 7 to delve into future plans for trade and economic cooperation between Russia and Mongolia. The prime minister expressed his satisfaction with Mongolia's most recent successful cooperation with Russia in a wide range of issues, especially in trade and economic sectors, as trade turnover between the two countries increased by 37 percent last year compared to 2016. He noted that as a railway transit transportation agreement between the governments of Russia and Mongolia, which aims to enhance cooperation on freight transportation trade between the two countries by promoting a flexible tariff policy for 25 years, will be signed soon, the agreement will have a significant impact on mutual trade and economic cooperation. The main advantages of the agreement are to facilitate border checkpoint procedures on transit freight, increase freight volumes, stimulate infrastructure development of railway transport and help support Mongolian exporters to overcome maritime transport obstacles. Prime Minister U.Khurelsukh pointed out that Mongolia is looking forward to diversifying the types of its goods being exported to Russia, increasing exports of its meat and meat products, establishing a meat processing factory that will produce products that meet Russian standards for meat imports, and collaborating with Russia to carry out a joint project in the cashmere industry. The Russian minister emphasized that the country pays a great deal of attention on its relations and cooperation with Mongolia, especially in culture, trade and economic cooperation. Minister Manturov stated that Mongolia is interested in exporting goods that are in demand in the Mongolian market, opening a leather processing factory in Mongolia, supplying agricultural technology and equipment, and helicopters, and collaborating with Mongolia to implement projects to increase the capacities of Thermal Power Plant No.3 and Ulaanbaatar Railway, and build a highway in Mongolia.