Ulaanbaatar, November 6, 2024 /MONTSAME/. Prime Minister of Mongolia Oyun-Erdene Luvsannamsrai attended and delivered remarks at the opening of the 7th China International Import Expo, held on November 5, 2024, under the auspices of the Ministry of Commerce of the People’s Republic of China and the Shanghai Municipal People’s Government.

Prime Minister Oyun-Erdene stated, “Mongolia, strategically positioned at the intersection of Asia and Europe, actively participates in this expo as a platform to enhance economic ties with not only neighboring China but also with other countries. This year marks the 75th anniversary of the establishment of diplomatic relations between Mongolia and China. In 2023, the trade turnover between the two countries reached USD 17.6 billion, and both sides are aiming to increase it to USD 20 billion. Mongolia is coordinating its medium- and long-term development policies, including “Vision-2050” and the “New Revival Policy,” with China’s “Belt and Road Initiative” and the “Global Development Initiative.” Mongolia is engaged in close partnerships with major companies like China Energy and China National Petroleum Corporation (CNPC), for coal and energy initiatives, as well as hydropower plants, and railways projects.”

The Prime Minister of Mongolia emphasized that the Government of Mongolia is working to install a new economic structure by making three key transitions in response to the rapidly evolving world. First, by using artificial intelligence-based digital and smart technologies as accelerators for development; second, by implementing a green development transition; and third, by prioritizing the transition in human resources to plan for Mongolia’s future growth. Mongolia’s enterprises are exhibiting their agricultural products, including globally recognized wool and cashmere while emphasizing the mining sector’s development and market potential. The aim is to elevate Mongolia from a natural resource supplier to a production-based provider. “A Mongolian traditional proverb, passed on from our ancestors, that says "A yes is an oath," the Prime Minister remarked. “Guided by this principle, we are committed to fostering a favorable legal environment for investors, advancing digital and transparent governance, and upholding mutually beneficial cooperation. We stand ready to engage in a partnership of mutual learning and benefit with all of you.”

Following his speech, the Premier visited the pavilions of Mongolian companies participating in the Shanghai Expo to wish them success. Over recent years, Mongolian wool and cashmere producers and beverage companies have taken part in this event. This year, more than ten Mongolian enterprises are participating, including Erdenes Mongol LLC, a member of the Mongolian National Mining Association, and its affiliate Erdenes Tavantolgoi JSC, as well as “Newcom Group,” “Max Group,” and “Capital Markets Mongolia.” During the expo, Mongolia will present information on mining sector projects in need of investment and promote the “Mining Week-MinePro 2025” event, to be held next year.

Held under the theme “Sharing the Future in a New Era,” this year’s expo welcomed the Prime Minister as a distinguished guest alongside Heads of State and Government from countries such as Pakistan, Serbia, Slovakia, Uzbekistan, Malaysia, and Kazakhstan. Notably, this is the first time that Mongolia has participated at the Head of Government level, with leaders of all political parties in Parliament, as well as some members of the Parliament and Government, attending the expo in a large delegation. 

Since its inception in 2018, the Shanghai Expo has annually taken place from November 5 to 10, with the primary goal of exploring new opportunities for global cooperation and trade. The expo consists of six primary sections covering food and agricultural products, automobiles, smart manufacturing and IT, consumer goods, healthcare products and medical equipment, and trade services. Additionally, it includes exclusive areas for innovation and national exhibits, with a total of 15 sections. Over the past six expos, 173 countries, regions, and international organizations have participated, with a combined transaction volume of USD 420 billion, showcasing 2,500 types of products, services, innovations, and advanced technologies.