1Canada , Mongolia to strengthen bilateral relationship .
2Canadian Prime Minister Stephen Harper and his Mongolian counterpart Sukhbaatar Batbold hailed the strong Canada-Mongolia relationship and committed to deepening political and economic ties between the two countries in a bilateral discussions held here on Tuesday .
3Harper announced after the meeting that Canada and Mongolia have reached new agreements to improve trade and market access , as well as strengthen both agricultural cooperation and Mongolia 's democratic governance and institutions .
4`` The agreements signed today show that our countries are committed to developing our relationship , '' said Harper .
5`` We look forward to further strengthening our ties , including cooperating on institutional reform and peace and security . ''
6In a joint statement issued by the two leaders , Batbold expressed his satisfaction with growing bilateral engagement and highlighted the importance of Canada as a model for the development of Mongolia .
7Harper welcomed Mongolia 's interest in the Canadian model , and its commitment to democratic values and institutions and to strengthening bilateral cooperation .
8The two prime ministers reaffirmed their desire to actively promote and expand bilateral trade and investment cooperation .
9They agreed to move forward the process aimed at successful conclusion of the Foreign Investment Promotion and Protection Agreement -LRB- FIPA -RRB- negotiations between the two countries on an expedited basis .
10Both sides agreed that the next round of negotiations would be held before the end of the year , and that ratification of a bilateral FIPA would lead to the start of a process pertaining to negotiations towards a bilateral free trade agreement .
11Canada and Mongolia also agreed to three Memoranda of Understanding -LRB- MOU -RRB- designed to strengthen trade cooperation and development between the two countries .
12Batbold is on his visit to Canada from Sept. 27 to Oct. 1 .
13In 2009 , the bilateral trade between Canada and Mongolia was valued at 164 million Canadian dollars -LRB- about 159.13 U.S. dollars -RRB- .