Mongolia is ready to work with Australia to expand bilateral cooperation and ties in a wide range of areas, including politics, economy, trade and culture, Mongolian Foreign Minister Damdin Tsogtbaatar said here Friday.

Tsogtbaatar made the remarks when meeting with Australian Ambassador to Mongolia John Langtry.

During the meeting, the two sides agreed to increase high-level contacts and exchanges in all areas, and further enhance people-to-people contact between Mongolia and Australia, the Mongolian Foreign Ministry said in a statement.

They also agreed to hold an annual consultative meeting of ministries of foreign affairs between the two countries in September in Ulan Bator in order to discuss ways to strengthen bilateral cooperation, according to the statement.

The first consultative meeting of ministries of foreign affairs between the two countries was held in 2014 in the Mongolian capital.

This year marks the 46th anniversary of the establishment of diplomatic ties between the two countries.