Mongolia is not a member of 45-nation Nuclear Suppliers Group (NSG) but is affiliated to International Atomic Energy Agency (IAEA).
Foreign Investment and Foreign Trade Agency of Mongolia (FIFTA) would sign a memorandum of understanding with the industry body Federation of Indian Chambers of Commerce and Industry (FICCI) to strengthen economic, trade and investment cooperation between India and Mongolia.
Mongolia’s decision to supply uranium to India has importance in the wake of Australia’s reluctance to do so. Recently, Mongolia has signed an inter-governmental agreement with Russia to establish a joint venture to develop, produce and process uranium.
