Article Posted on : - Sep 14, 2009

Prime Minister Manmohan Singh shakes hands with Mongolian President Tsakhiagiin Elbegdorj after the two countries held official level talks and signed agreements, in New Delhi on Monday. Image credit: PTI

NEW DELHI(PTI): India signed a civil nuclear pact with Mongolia, which is believed to have ample resources of uranium, Monday.

Mongolia became the sixth nation with which India has signed a civil nuclear pact since the 45-nation Nuclear Suppliers Group lifted a 34-year-old ban on India to have trade in the field with the international community.

The nuclear agreement and four other pacts were signed after wide-ranging talks between Prime Minister Manmohan Singh and Mongolian President Tsakhiagiin Elbegdorj here.

India has already inked civil nuclear agreements with the US, Russia, France, Kazakhstan and Namibia.

The 'Memorandum of Understanding on Development of Cooperation in the field of Peaceful Use of Radioactive Minerals and Nuclear Energy' would enable India to look for uranium in Mongolia.

Speaking on the occasion, Singh said both the leaders have agreed on deeper cooperation in the field of mining and other areas like agriculture.

The other pacts signed by the two sides were in the field of health, cultural exchanges, statistical matters and extension of loan.

India also announced USD 25 million stabilization fund for Mongolia to help it in mitigation of the impact of global financial crisis.

Elbegdorj expressed gratitude to India for providing the stabilization fund.