Over 50 Memorandums of Cooperation Signed between Mongolia, Russia and China

Densmaa 2023-06-14 05:06

Economy

The 16th Trade and Economic Forum of the Chambers of Commerce and Industry of Mongolia, the Russian Federation, and the People's Republic of China took place in Ulaanbaatar

The 16th Trade and Economic Forum of the Chambers of Commerce and Industry of Mongolia, the Russian Federation, and the People's Republic of China took place in Ulaanbaatar on June 8-10. The stakeholders signed over 50 memorandums of cooperation. The memorandums aimed to provide support in resolving the control, inspection, and quarantine requirements during the export of meat and meat products, milk, and dairy products to the markets of Russia and China, and transit through the territory of these two countries for exportation to third countries. In view of the specific geographical location of Mongolia, multiple issues were raised such as increasing the capacity of border ports and the number of entry and exit points towards developing international transit transport, freight transport, and tourism as well as extending the working hours of ports. Six Mongolian, four Chinese and three Russian companies presented cooperation projects and held business meetings at the joint conference, which was attended by the management of the chambers of commerce and industry, embassy officials, and over 600 representatives of businesses and organizations of the three countries. The Mongolian side presented the Free Economic Zone of Khushigt Valley. It is planned to build a free economic zone settlement with dozens of thousand people working and living on 1000 hectares of land of the Chinggis Khaan International Airport. The next 17th Forum of the Chambers of Commerce and Industry of Mongolia, China and Russia will be organized by the China Council for the Promotion of International Trade in 2024.