Ulaanbaatar, October 24, 2024 /MONTSAME/. During his return from attending the expanded meeting of the Council of Heads of Government of the Shanghai Cooperation Organization (SCO) member and observer states, Prime Minister of Mongolia Oyun-Erdene Luvsannamsrai made a working visit to the People's Republic of China.

Prime Minister of Mongolia Oyun-Erdene Luvsannamsrai participated in the event commemorating the 75th anniversary of the establishment of diplomatic relations between Mongolia and the People's Republic of China. During this time, the two countries have overcome historical challenges together, advancing side by side. The Prime Minister emphasized that the relations between the two countries have now expanded to the level of a comprehensive strategic partnership and are continuously developing. Additionally, Prime Minister Oyun-Erdene underscored the need to further strengthen the traditional friendly relations between Mongolia and China and highlighted the importance of defining new pathways for mutually beneficial cooperation, which would steadily progress in the coming years. "In 2022, the Heads of State of Mongolia and China set the goal of increasing bilateral trade turnover to USD 20 billion in the following five years. As of 2023, total trade between the two countries reached USD 17 billion, which is the result of active bilateral cooperation," stated Prime Minister Oyun-Erdene. 

During his working visit to the People's Republic of China, Prime Minister Oyun-Erdene met with Liu Guoyue, Chairman of the Board of Directors of the "China Energy" Group. On April 2, 2024, the Governments of Mongolia and China signed an agreement on the joint construction of a cross-border railway bridge at the Gashuunsukhait-Gantsmod border checkpoint. Prime Minister Oyun-Erdene Luvsannamsrai expressed Mongolia's intention to expedite the construction of the border connection and the bridge. Chairman Liu Guoyue supported the Prime Minister of Mongolia Oyun-Erdene's proposal and expressed interest in maintaining stable, long-term cooperation with Mongolia.

Additionally, Prime Minister Oyun-Erdene Luvsannamsrai exchanged views with Dai Houliang, Chairman of the Board of Directors of the China National Petroleum Corporation (CNPC), on cooperation in the oil sector, construction of a natural gas pipeline, and fuel purchases. The Prime Minister highlighted the possibility of supplying raw materials to Mongolia’s ongoing oil refinery project. Premier also expressed Mongolia's interest in increasing the import of Euro-5 standard fuel from China and collaborating with CNPC on new oil exploration projects to boost production. Dai Houliang, Chairman of the China National Petroleum Corporation (CNPC), expressed his gratitude for the opportunity to meet again with Prime Minister of Mongolia Oyun-Erdene Luvsannamsrai and expressed interest in enhancing bilateral cooperation, noting that intensifying cooperation in oil exploration and production would be opportune.