Mongolian-Chinese trade relations to strengthen
LandEX company signed agreement for the logistic trade projects with Caofeidian Port Corp. of China during Caofeidian industrial zone’s promotion conference.
LandEX company signed an agreement for the logistic trade projects with Caofeidian Port Corp. of China during Caofeidian industrial zone’s promotion conference. It was among the 37 projects settled in Caofeidian with a total investment of over 45 billion yuan. A month earlier of the conference, Caofeidian a unit of Tangshan port, had launched a new rail freight link to Ulaanbaatar with 51 containers of raw materials, furniture and electrical appliances to Mongolia via the border crossing at Erenhot, said Sun Gui Shi, member of standing committee of the Tangshan municipal Communist Party of China. The new link would allow not only Caofeidian to implement its ambitious plan for becoming an international hub and but also landlocked Mongolia to turn into land-linked trade hub by 2-3 times lower cost and faster route for exporters in Europe. Transit freight via Mongolia was tripled in the first quarter of this year, accounting for about 10 percent of the container shipping between China and Europe, according to the statistics. Mongolia and China reached an agreement to enhance the cooperation of maritime ports in Northern China, during the Chinese President Xi Jinping’s visit in Mongolia, in 2014.
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