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  • Mongolia-China business forum will speed up bilateral trade

    In the frameworks of an official visit of Mongolian Prime Minister U.Khurelsukh to the People’s Republic of China, a Mongolia-China business forum took place on April 11 in Beijing, China.

    Co-organized by the Mongolian National Chamber of Commerce and Industry (MNCCI) and the China Council for the Promotion of International Trade (CCPIT), the business forum was attended by Mongolian some 300 delegates; and the parties signed 36 business agreements and deals worth USD 4.6 billion during the forum.

    U.Khurelsukh made the opening remarks at the forum, saying that Mongolia appreciates the Belt and Road Initiative and pointed out Mongolia had worked out a strategy to collaborate with China on this initiative. He underlined Mongolia has managed to overcome economic difficulties in a short time thanks to effective collaborative actions with the International Monetary Fund and international community.

    “In order to keep a constant economic growth, the Mongolian government has been doing specific actions to improve the legal environment for businesses and investors by amending the master law on taxation. We now have willingness to cooperate with China in agriculture and a creation of environmentally-friendly energy resources,” the Premier said, and then expressed interest to cooperate in implementation of projects on infrastructure, railway constructions and formation of a satellite city near Ulaanbaatar.

    The Premier’s remarks were followed by a speech by Jiang Zengwei, Chairman of the CCPIT.

    “China and Mongolia have to go forward together for their development. A visit of the PRC President Xi Jingpin paid to Mongolia in 2014 gave an impetus to a rapid development of the bilateral relations. Chinese investment currently makes up one third of all foreign investments in Mongolia, and it created almost 100 thousand workplaces. I am delighted to say the people-to-people ties have been strengthening,” Jiang said.

    “We are focusing attention to keeping a steady growth in the trade turnover. Today’s forum attracted more than 600 delegates from both countries, which means businesspeople and companies have great interest in working together. We have to facilitate customs and border crossing to boost the China-Mongolia commercial ties. Mongolia also has a need to develop its industrialization, so we should increase a flow of investment to the country. China is able to develop business collaboration with Mongolia because China has vast experience in it,“ he said.

    After this, B.Lkhagvajav, Chairman of the Board and President of the MNCCI, made a speech, emphasizing that China has been a long-year strategic partner of Mongolia in trade and investment.

    “Mongolia-China relations and cooperation have reached a comprehensive strategic volume. This forum is an evidence of an intensive development of our cooperation in all spheres such as politics, trade, economy, defense, culture, education and humanity. I am confident that this year’s business forum will contribute to helping businesspeople of both countries widen their ties and market and brining new ideas and commercial channels,” B.Lkhagvajav said. He then expressed gratitude to the Mongolian Embassy in China and the CCPIT for assistance for organizing the forum.

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