Mongolia and Russia on Tuesday signed a permanent treaty on friendly relations and lifted bilateral ties to a comprehensive strategic partnership.
The new treaty to lift the bilateral relationship between the two neighbours was signed after talks between Mongolian President Khaltmaa Battulga and visiting Russian President Vladimir Putin.
"As a result of Russian President Putin's official visit to Mongolia, bilateral relations between our two countries have reached a new level of a comprehensive strategic partnership," Battulga told a press conference after his meeting with Putin.
He said the elevated Mongolia-Russia relations are based on high-level mutual trust and a common aspiration for closer relations of mutual benefit.
Putin said signing of the new treaty is a great opportunity to strengthen bilateral ties across the board. The two countries should pay more attention to boosting bilateral trade, he added.
According to the Russian president, trade turnover between the two countries rose by 21 per cent year-on-year in 2018 and by 12 per cent in the first seven months of 2019.
The two countries on Tuesday also signed other deals and agreements related to the economy, trade and defence.
Putin arrived in the Mongolian capital of Ulan Bator on Monday evening for an official visit.