Mongolia ready to allow Russian bank branch to open to facilitate settlements

MOSCOW. Nov 19 (Interfax) - Opening a Russian bank branch in Mongolia could facilitate settlements, Mongolian Prime Minister Gombojavyn Zandanshatar said at a meeting with Russian President Vladimir Putin in the Kremlin.

"Mutual payments and trade settlements remain an important topic for us. Today, our finance ministers have practically agreed on how to address these issues. We are willing to grant all necessary permits for the branch of a Russian bank to open," he said.

Zandanshatar said all settlements and payments could be handled by the bank, which he did not name.

Putin said bilateral trade rose 7.9% in January-August. "It has to be said that in current conditions, growth of nearly 8% is generally a good result," he said.