Mongolia-China-Russia economic corridor renewed
Mongolia-China-Russia economic corridor renewed.
Mongolia-China-Russia economic corridor renewed. An outline of the plan for the Mongolia-China -Russia economic corridor is revealed. The plan is compiled based on the 2015 memorandum of understanding on the construction of the economic corridor between the three countries. According to the plan, the countries will increase the scale of trade in agricultural products, energy and building materials. The three countries will also strengthen the trade cooperation in the services sector, the cooperation in software program design and data maintenance, and establish cross-border economic cooperation zones. Mongolia, China, and Russia seek to develop their infrastructure sectors by constructing international land transportation corridors, starting new railway and highway projects, and negotiating new rules for cross-border transportation. The economic corridor is intended to strengthen the three countries' mutual cooperation and support win-win economic development, as well as to increase the countries' competitiveness in international market. Multiple channels will be used for financing, such as government investment, public-private partnerships and investment from international financial institutions such as the Asian Infrastructure Investment Bank and the New Development Bank.
Views: 1169
Tweet