Australia and Mongolia recently signed a number of agreements to increase bilateral business and educational cooperation. In an e-mail interview, Li Narangoa, a professor in the School of Culture, History and Language at the Australian National University, discussed Australia-Mongolia relations.
WPR: What is the extent of existing trade between Australia and Mongolia?
Li Narangoa: Trade between Australia and Mongolia has been small, with a total value of about $25 million in 2010. Though Australia and Mongolia established diplomatic relations in 1972, a serious trade relationship began only in the 1990s, when Mongolia introduced a democratic political system and free-market reforms. Trade mainly comprises the export of mining equipment and civil engineering services, along with a very limited volume of agricultural products such as wine, beef and lamb sent from Australia to Mongolia.