EXCHANGE OF LETTERS BETWEEN THE GOVERNMENTS OF INDIA AND MONGOLIA FOR PROMOTION OF TRADE
New Delhi, 14 January 1959
New Delhi, the 14th January, 1959
Dear Mr. SANDILYA,
I have the honour to refer to the recent discussions that have recently taken place between the representatives of the Foreign Trade
Organisations of the Mongolian People's Republic and those of the State Trading Corporation of the Ministry of Commerce and Industry,
Government of India, New Delhi, when it was agreed to take the following steps to promote trade between our two countries :-
1. The Foreign Trade Organisations of the Mongolian People's Republic and the State Trading Corporation of India will, in conformity
with the laws, rules and regulations in force from time
to time in the two countries, take all appropriate measures to develop trade in commodities between the two countries on terms of
equality and mutual benefit.
2. The sale and purchase of goods between the two countries will be effected by means of contracts en tered into by the Foreign
Trade Organisations of the Mongolian People's Republic on the one hand and the State Trading Corporation of India as well as private
parties in India on the other.
3. All commercial and non-commercial payments between the parties in the two countries will be effected in non-transferable Indian
rupees which will be credited or debited to an account maintained by the Mongolian State Bank with the State Bank of India. The Mongolian
State Bank may, with the mutual agreement of the authorities concerned in both the countries also maintain a central clearing account
with the Reserve Bank of India which will be used exclusively for replenishing the balance in the account maintained with the State
Bank of India.
4. The two parties would endeavour to give the maximum publicity to the attached lists of the goods available for export from both
the countries. Re-export of the goods purchased by the one side from the other should take place only with the consent of the latter.
The Mongolian side will study the suggestion made by the Indian side on the possibility of promoting triangular trade.
This letter will be valid pending conclusion of a Trade Agreement between our two respective Governments.
I shall be grateful if you would kindly confirm that the foregoing
correctly sets out the understanding reached between us.
For the Foreign Trade Organisations of the Mongolian People's Republic.
Mr. D. SANDILYA,
Sate Trading Corporation of India, New Delhi.
GOODS AVAILABLE FOR EXPORr FROM MONGOLIAN PEOPIXS REPUBLIC
1. Camel wool, raw.
2. Sheep spring wool, washed.
3. Sheep autumn wool, raw.
4. Lamb's wool, raw.
5. Horse and Goat Hair.
H IDES AND SKINS
6. Horse, camel hides, raw.
7. Sheep, goat skins, tanned.
8. Baby-camel, foal, calf, lamb, kid's skins, raw.
12. Squirrel and others.
MEAT & BUTTER
17. Frozen beef.
18. Frozen mutton.
19. Frozen goat meat.
20. Pork, domestic and wild.
21. Wild birds, frozen.
22. Fresh butter.
23. Fishes, salted and frozen.
24. Sheep, goat intestines, tanned.
27. Handicraft fine articles and knitted wears.
28. Leather over-coats and leather haberdashery.
29. Books and periodicals.
30. Cinema films (exposed).
GOODS AVAILABLE FOR F"ORT FROM INDIA
1 . Jute goods.
6. Manganese Ore.
7. Vegetable oils.
8. Iron ore.
9. Cooking fats.
12. Oil cakes.
13. Fish meal.
16. Machine tools.
16. Sewing machines.
17. Fans and other electrical appliances.
18. Coir and coir manufactures.
19. Cotton raw.
20. Cotton yarn.
21. Cotton fabrics.
22. Animal hair.
25. Hides and skins.
27. Handloom. products.
28. Leather goods.
29. Woollen textiles.
31. Canned fruit.
33. Pepper and other spices.
34. Cashew nuts.
35. Hemp, such as manilla and sisal.
37. Myrobalan extracts.
40. Light Engineering goods.
41. Cinema films (exposed).
New Delhi, the 14th January, 1959
Dear Mr. AVIRMID,
I write to acknowledge receipt of your letter of today's date, which
reads as follows :
I confirm that the above correctly sets out the understanding reached between us.
for State Trading Corporation of India.
H.E. Mr. SHIMIDIN AVIRMID,
Leader of the Trade Delegation from the Mongolian People's Republic, New Delhi.