Mongolian Prime Minister Ukhnaa Khurelsukh stressed the huge potential of economic and trade cooperation between China and Mongolia on April 11, calling for more extensive bilateral cooperation in the areas of mining, energy and environmental protection.
He made the remarks at the China-Mongolia Business Forum which was organized by the China Council for the Promotion of International Trade (CCPIT) and the China Chamber of International Commerce (CCOIC) in Beijing.
China has been Mongolia's largest foreign investor and trade partner for years. "Mongolia and China are friendly neighbors connected by common mountains and rivers," Khurelsukh said, adding that companies from the two countries should seize the opportunities to boost imports and exports.
Jiang Zengwei, head of CCPIT, pointed out that China and Mongolia should expand pragmatic cooperation in various fields, and seek deeper economic ties in a bid to achieve mutual benefit and win-win outcomes.
According to data revealed by Jiang, over the past 10 years, the contribution of bilateral trade with China to Mongolian economic growth has reached nearly 50 percent. China's direct investment in Mongolia has surpassed US$4 billion, accounting for one third of Mongolia's foreign investment. Almost 100,000 jobs have been created in Mongolia through Chinese companies' investment in the fields of infrastructure, mining and people's livelihood projects.
Jiang noted that China's complete industrial system can meet Mongolia's increasing demands for funding, technology and management experience brought about by Mongolia's accelerating urbanization and industrialization process.
He pointed out that the two countries have been making efforts to speed up the linking of the Belt and Road Initiative and Mongolia's Prairie Road development initiative so as to promote economic and trade exchanges between the two countries.
China and Mongolia also signed a memorandum of understanding for cooperation on commercial laws at the forum. Moreover, companies from the two countries signed more than 20 cooperation agreements in various fields such as energy, construction and logistics.
(Source: China.org.cn, Text by Gong Yingchun)