"First of all, in this extensive package of agreements that has been signed, I’ll highlight the interstate Friendship Agreement," Putin said. "This essential document enshrines the quality and new level of Russian-Mongolian interaction, a comprehensive strategic partnership opening up significant prospects for its further expansion in various directions," he added.

Putin said that he was convinced that the long-standing traditions of friendship and solidarity are a firm foundation for the development of Russian-Mongolian relations. He agreed with his Mongolian counterpart that the negotiations were informative and constructive. Putin said that the parties discussed a wide range of bilateral issues, and exchanged views on pressing international and regional issues.

The Russian president has described cooperation between Moscow and Ulaanbaatar in the fight against terrorism and military-technical cooperation between the two countries as an important factor in ensuring security in Asia.

"We discussed in detail the prospects for defense, military-technical and counter-terrorism cooperation between our countries," Putin said following talks with Mongolia’s President Khaltmaagiin Battulga. "We consider cooperation in this area to be a major factor in ensuring security in Asia."

He recalled that the two countries had held joint military drills in Mongolia in August, adding that "this practice would be continued."

According to the head of state, Russia and Mongolia see eye to eye on many pressing regional and global issues or have similar stances on them. He noted that Moscow and Ulaanbaatar coordinated their actions at multilateral platforms, including the UN. Trilateral cooperation between Russia, Mongolia and China is expanding as well.

"We welcome Mongolia’s desire to establish closer contacts with the Eurasian Economic Union," Putin added. "We believe that this cooperation will have a positive effect on trade and investment cooperation between our countries."

Russia and Mongolia can significantly boost bilateral trade, Vladimir Putin noted.

"There is every opportunity not only to return to the peak trade indicators of 2012, but to move further, expand bilateral trade exchanges. We will jointly implement new projects, including in the field of infrastructure, in the mining industry, energy, and agriculture," Putin said.

According to him, the Russian-Mongolian fund of investment cooperation will also finance such projects — on Tuesday the Russian Direct Investment Fund concluded an agreement with Mongolian partners on establishing the fund. "I would like to note that the fund will invest mainly in the national currencies of our countries," Putin said.

He also said that Rosatom is considering the possibility of creating a nuclear science center in Mongolia to use radiation technologies in medicine, industry, agriculture, and other areas.