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Wang Wentao: deepen and broaden China-Mongolia trade and economic cooperation

On September 7, Wang Wentao, Minister of Commerce of China and co-chair of the China-Mongolia Joint Trade and Economic Commission, held a video conference with Amarsaikhan, Deputy Prime Minister of Mongolia and co-chair of the China-Mongolia Joint Trade and Economic Commission, to exchange views on the promotion of bilateral economic and trade cooperation. Vice Minister of Commerce Ren Hongbin joined the meeting.

Wang noted that in their phone call in July this year, President Xi Jinping and President U.Khurelsukh reached a series of important understanding on deepening bilateral cooperation in various fields, which pointed the way for the bilateral relations to move forward. Since the outbreak of COVID-19, the two countries have stood in firm solidarity and deepened traditional friendship. Mongolia donated 30,000 sheep to China, while China reciprocated with anti-epidemic equipment and green brick tea, writing a touching episode of friendship between the two peoples.

Wang Wentao pointed out that under the strategic leadership and personal commitment of the two Presidents, China and Mongolia have actively aligned the Belt and Road Initiative and the Steppe Road program, jointly participated in the construction of the China-Mongolia-Russia economic corridor, and achieved remarkable results. In the first seven months of this year, bilateral trade increased by 63.5% year-on-year, much higher than the growth rate of China's trade with other countries in the same period. China, with its enormous market that is open and friendly to Mongolia, is willing to import more mineral products, agricultural and animal husbandry products from Mongolia. China encourages capable and reliable enterprises to carry out investment cooperation in Mongolia, and stands ready to accelerate major projects with Mongolia to deepen and broaden bilateral economic and trade cooperation. It is hoped that the Mongolian side will provide a good business environment for Chinese enterprises. China attaches great importance to smooth trade flow between China and Mongolia at entry ports, and expects to make joint efforts to facilitate the smooth flow of goods at entry ports while ensuring epidemic prevention and safety; Meanwhile, it is also necessary to study and promote infrastructure connectivity to create conditions for expanded trade.

Amarsaikhan noted that Mongolia regards China as its most important trading partner and attaches great importance to economic and trade cooperation with China. It is hoped that Mongolia-China Joint Trade and Economic Commission can facilitate more concrete results in bilateral trade and economic cooperation. Since the outbreak of the epidemic, Mongolia and China have supported each other in joint COVID-19 response. China’s robust support to Mongolia in the fight against the epidemic is highly appreciated. The Mongolian side is willing to strengthen communication and cooperation with the Chinese side to stem the spread of the virus through cross-border movement of people and goods, and seeks China’s support to increase goods flow through entry ports, expand the export of non-mineral products to China and ensure smooth transit container transport. Chinese enterprises are welcome to invest in Mongolia.



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