China and Mongolia have agreed to expand cooperation in trade and investment, marking a significant step toward strengthening bilateral relations between the two neighboring countries. The agreement was reached during a meeting on Tuesday between Chinese Premier Li Qiang and Mongolian Prime Minister Luvsannamsrai Oyun-Erdene, who was in Shanghai attending the 7th China International Import Expo (CIIE).
Deepening Economic Ties
Premier Li emphasized the importance of aligning China's development strategy with Mongolia's economic plans. He noted that China highly values its friendly cooperation with Mongolia and considers it a priority in neighborhood diplomacy. The leaders discussed enhancing cooperation in infrastructure projects, including port connectivity, mining, and hydropower stations, vital sectors for both nations' growth.
Exploring Emerging Sectors
Recognizing the potential of emerging industries, Li and Oyun-Erdene agreed to explore collaborations in artificial intelligence and green development. The Chinese premier encouraged capable Chinese enterprises to invest and do business in Mongolia, fostering innovation and sustainable development in the region. This initiative aligns with global trends toward high-tech and environmentally friendly industries.
Commitment to Regional Cooperation
Li reiterated China's commitment to working with Mongolia and other Asian countries to promote peace, solidarity, and cooperation. He emphasized enhancing exchange and coordination within multilateral frameworks such as the Shanghai Cooperation Organization, aiming to contribute to regional stability and prosperity.
Mongolia's Perspective
Prime Minister Oyun-Erdene expressed Mongolia's firm adherence to the one-China policy and the importance of mutual respect on issues concerning each other's core interests. He highlighted Mongolia's readiness to deepen mutually beneficial cooperation in areas like energy, urban planning, and desertification control. Additionally, Mongolia is eager to explore new fields of collaboration, including artificial intelligence, green development, and human resources.
Looking Ahead
The meeting underscored both countries' commitment to implementing the consensus reached by their heads of state for the benefit of their peoples. By expanding trade, investment, and cooperation in emerging sectors, China and Mongolia aim to foster stronger ties that will contribute to economic growth and regional development.
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China, Mongolia to expand cooperation in trade and investment
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