Ulanbaatar, Mongolia/Beijing - Mongolian President Nambaryn Enkhbayar Monday conceded his defeat in the country's presidential elections, saying he respected the result.

According to preliminary results by the parties, the incumbent lost to former premier Tsakhiagiin Elbegdorj of the opposition Democratic Party, Enkhbayar's only rival.

"I hope that Elbegdorj will cooperate with the government," Enkhbayar, the candidate of the ruling Mongolian People's Revolutionary Party, was quoted as saying by the Chinese Xinhua news agency.

Final results have not been released by the country's election commission so far. The two parties released preliminary results based on information by their supervisors at the polling stations. (dpa)