Mongolia will be involved in New Silk Road project

2015-11-04 13:35:00

            President of the People’s Republic of China Xi Jinping paid a visit to Mongolia in 2014. During this visit, the two countries established a memorandum on boosting the comprehensive partnership relations and reached an agreement about organizing a joint expo. By the agreement, a Mongolia-China expo was organized on October 23-27 in Hohhot city of Inner Mongolian Autonomous Region of China.

The expo was attended by Mongolian delegation headed by Minister of Industry Mr Erdenebat and the private sector’s representatives. The Minister said the signing of over 100 agreements in the mining, energy, industry and other areas will contribute to the economic circulation of Mongolia.

Mr Erdenebat also exchanged views on the bilateral commercial and economic ties with the Chinese Vice Minister of Trade. The parties shared views about jointly participating in the China-initiated New Silk Road project which connects Asia and Europe, cooperating in the humanitarian and economic spheres, creating an economic corridor through Mongolia and mutual responsibilities in the project.

In the scope of the project, a memorandum between the Mongolian Ministry of Industry and the China’s Ministry of Trade will be signed by the Mongolian President during a forthcoming visit to China on November 10.

The countries have concurred to organize the joint expo every two years, and the Mongolian Minister of Industry Mr Erdenebat said this expo is big chance for Mongolian companies to export their products to China rather than exporting goods to other countries.