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Prime Minister J.Erdenebat and Chinese Xi Jinping discuss upgrading partnership

 

Ulaanbaatar /MONTSAME/ Prime Minister J.Erdenebat is paying a visit to the People’s Republic of China. He paid a courtesy call on the Chinese President Xi Jinping on May 12. The sides affirmed mutual interests in upgrading the comprehensive strategic partnership with new contents of cooperation.

PM J.Erdenebat extended gratitude to Xi Jinping for inviting him to attend the Belt and Road International Cooperation Summit, and congratulated on the fact that the Belt and Road has been receiving great international support.

Chairman Xi Jinping said “Many deals have been put into action since I had carried out a visit to Mongolia in 2014. In the future, Mongolia-China relations have to stand on more concrete foundation”. He also said, while quoting the saying ‘close neighbor is better than a distant friend’, that Mongolia and China should aspire to stay together to benefit from the global growth.

The dignitaries agreed on the view that coordination of Mongolia’s Development Road Program with the Belt and Road initiative opens new opportunities for Mongolia and China to boost ties and that Mongolia can prosper by taking active part in the Belt and Road, as the country is already located in the heart of Belt and Road zone.

Mr J.Erdenebat highlighted that Mongolia’s ties with China is a priority in our country’s foreign policy, and expressed positions on potential joint projects in connection with trade, economy, trans-boundary development and infrastructure.

The sides stated the bilateral trade turnover needs to be elevated and the composition of bilateral trade should be balanced.

Chinese side expressed its readiness to assist Mongolia in overcoming the temporary constraints facing Mongolian economy. At first, the Chinese side notified about the extension of SWAP agreement term between the People’s Bank of China and the Bank of Mongolia. China is providing financial aid of CNY 350 million to Mongolia at the moment.
 
During the meeting with PM J.Erdenebat, the Chinese side notified that it is providing another package of financial assistance of CNY 2.0 billion in the next three years. The percentage of proposed Mongolian projects, to be financed by the Chinese government’s USD 1.0 billion loan, has also been raised from 85 percent to 95 percent.
 
China proposes to collaborate initially in increasing supply of meat from Mongolia to China and improving health of Mongolian livestock, in order to cooperate in agricultural sphere on a wider scale. Furthermore, the two sides agreed to focus on expanding actions of border ports and increase pass-through capacity of customs and grant official statuses to certain border checkpoints.
Mr Xi Jinping mentioned that Mongolia and China have shared development strategy on promoting comprehensive development of major mining project in Mongolia, such as Tavantolgoi and Oyu Tolgoi’s concentrate plant, and in building their respective transport railroads and energy supply stations.
The meeting took place in friendly atmosphere, reports the Press and Public Relations Division of Cabinet. 

 Source: MONTSAME