Italian Minister of Foreign Affairs and International Cooperation Paolo Gentiloni inaugurated the Italian Embassy in Ulaan Baatar, Mongolia today.
Mongolia’s Foreign Minister Lundeg Purevsuren, the new Italian Ambassador Andrea De Felip, and members of the Italian community residing in Mongolia attended the inauguration.
During his welcome speech, Minister Gentiloni said that the centuries-old relations between Italy and Mongolia - dating back to the thirteenth century and formalized in 1970 – have evolved in recent years with very positive political and economic effects.
"Mongolia has enormous potential and Italy is ready to support its growth. The opening of our Embassy may be instrumental in developing closer relations between the two countries through the assistance it can provide to our companies, to our fellow citizens and to Mongolian citizens and businesses interested in Italy," Mr Gentiloni said.
A country bordered by China and Russia with about three million inhabitants, Mongolia has recently proved to be considerably dynamic, with its GDP expected to grow by 5.9% in 2016. The main sectors of its local economy, from textiles to food safety, are amenable to more intense collaboration with Italian businesses.