Chinese Ambassador commented on bilateral economic cooperation

Oyundelger 2017-03-20 07:03

Economy

Speaking to journalists Ambassador Xing emphasized that mining, infrastructure, and humanitarian collaboration are key pieces of economic cooperation between the two countries.

Chinese Ambassador commented on bilateral economic cooperation. Speaking to journalists Ambassador Xing emphasized that mining, infrastructure, and humanitarian collaboration are key pieces of economic cooperation between the two countries. The Ambassador highlighted the need to move forward on establishing an economic cooperation zone and free-trade zone agreement. He also singled out establishment of agreements between Chinese and Mongolian investors, development of an economic corridor between China, Russia, and Mongolia under the Belt and Road Initiative and development of economic cooperation in areas along the Mongolian and Chinese border. The Chinese Ambassador said that cooperative projects will greatly contribute to the stability of increased economic cooperation, and will help Mongolia overcome its economic challenges.The Ambassador noted that trade turnover between Mongolia and China was 5 billion USD last year, but it represented less than one percent of China’s foreign trade in 2016. Mr. Ambassador said there should be a greater focus on developing trade turnover, and that there are numerous opportunities for the countries to take advantage of their improved relations.