Because the geopolitical paradigm shifts, it’s strategically and economically necessary for Mongolia to always increase its partnerships – and it ought to begin by reinvigorating partnerships throughout the area. From Ulaanbaatar’s standpoint, past its fast neighbors, Russia and China, the closest and strongest strategic companions are Japan and South Korea. With Mongolia already having fun with robust diplomatic ties with Tokyo and Seoul, Ulaanbaatar ought to pursue a trilateral mechanism targeted on important minerals, renewable vitality, and meals safety.
Since 2011, Mongolia has been implementing what is called the “third neighbor” coverage, which incorporates technologically superior international locations similar to Japan and South Korea. Mongolia now enjoys strategic partnerships with each international locations and has grow to be one of many area’s trusted companions. Including substance to their cooperation, all three international locations are robust democracies in a area marked by creeping authoritarianism.
Mongolia’s bilateral relations with Japan and South Korea have to this point opened great alternatives for financial, funding, and commerce relations. As well as, each international locations have brazenly supported Mongolia’s international coverage engagements and initiatives, such because the Ulaanbaatar Dialogue on Northeast Asian Safety, which considerations cooperation mechanisms that impression Seoul and Tokyo immediately.
Nevertheless, given the present state of worldwide affairs, it’s time to maneuver past bilateral ties to discover a trilateral partnership between Ulaanbaatar, Tokyo, and Seoul. The competitors for dependable partnerships will solely sharpen within the subsequent couple years.
South Korea already sees Mongolia as an necessary supply of uncooked supplies that may help South Korea’s superior manufacturing. South Korean economists and business specialists alike see the potential for Mongolia to be a dependable provider of important minerals. Korean funding will help discover these uncommon earths, which can being more and more beneficial within the world provide chain. Since turning into strategic companions, Mongolia-South Korea commerce has been diversifying, from coal briquettes, gold, and molybdenum ore to shoppers items, meals, cosmetics, and drugs and agriculture.
In 2024, South Korea launched the fourth spherical of Financial Partnership Settlement (EPA) talks with Mongolia, with a particular give attention to “commerce, funding, public procurement and different cooperative initiatives.” The goal is to forge an settlement that may streamline Mongolia-South korea joint tasks, particularly within the vitality and mining sectors in addition to “provide chains, logistics, infrastructure and digital sectors.”
Japan, is one other strategic associate of Mongolia, with great potential for expanded cooperation. Japan-Mongolia relations have superior considerably within the final decade. Tokyo has constantly supported Mongolia’s democratization and growth in main tasks by means of delicate loans and technical help from the Japanese Worldwide Cooperation Company (JICA).
In 2022, throughout Mongolian President Khurelsukh Ukhnaa’s state go to to Japan, the 2 governments upgraded their 2010 strategic partnership settlement to a “Particular Strategic Partnership for Peace and Safety,” increasing their cooperation not solely in regional affairs however past.
Mongolian International Minister Battsetseg Batmunkh is at the moment on a five-day visit to Japan and the place she is going to maintain the Japan-Mongolia international minister’s assembly to debate increasing bilateral relations.
In recent times, the Japanese authorities has proven extra curiosity in Mongolia’s important minerals, particularly, copper, fluorspar, and uncommon earths, that may be utilized in Japan’s superior manufacturing.
Given the same trajectories of Mongolia’s relationships with each Japan and South Korea, exploring a trilateral partnership that features each Tokyo and Seoul can have strategic benefits. In separate talks with Japan and South Korea, Mongolia is already increasing financial actions and its function in important provide chains. A trilateral framework may add impetus to those efforts.
These relationships are particularly necessary to Ulaanbaatar as a result of Mongolia’s transition to renewable vitality and financial diversification efforts have grow to be a wrestle. The inherent problem for Mongolia has at all times been financing and infrastructure. For Ulaanbaatar, then, unlocking elevated curiosity and funding from Japan and South Korea can be a serious boon.
With the prospect of unlocking Mongolia’s important minerals sector, Ulaanbaatar has one thing important to supply to world companions like Japan and South Korea, that are each superior know-how producers and signatories to the just lately established Mineral Safety Partnership (MSP). Mongolia’s pure sources will grow to be an necessary aspect in how companies and governments alike search to mitigate the danger of disruption of important minerals.
