Over 100 trade agreements signed at China Mongolia Expo


Minister of Industry D.Erdenebat highlighted that during the first China Mongolia Expo, held from October 22 to 27 in Hohhot, businesses from the two countries signed over 100 negotiations and memorandums on enhancing cooperation in industry, mining, and free trade zones, representing 100 billion CNY in trade.
During his state visit to Mongolia last year, Chinese Leader Xi Jinping approved a mid-term program of trade and economic cooperation to boost the two nation’s trade turnover to 10 billion USD by 2020. Organizers underlined that the first China Mongolia Expo was an important event for realizing the 2020 goal.
During the event, Mongolian businesses sold their products and pursued partnerships with Chinese businesses. Meat exporters signed a cooperation agreement for eight billion CNY and Erdenes Tavan Tolgoi signed an agreement for a coal distribution and export project with Chinese concentrator plants near the border.
Industry Minister D.Erdenebat said, “Erdenes TT is going to distribute coal to Chinese concentrator plants, namely, the company will collaborate with plants located between Gantsmod and Khaliut. In times when coal demand is in decline, the company’s cooperation with Chinese companies will improve their competitiveness.” In 2014, Erdenes TT exported 5.7 million tons of raw coal, and planned to export six million tons of coal in 2015. The company believes that by collaborating with Chinese companies their coal export volume will reach 28 million tons.

The first Mongolia-China Expo involved over 800 business representatives from Mongolia’s culture, sport, humanity, and business sectors, and over 7,000 representatives from Chinese businesses. Over 230 Mongolian businesses sold over 600 types of products for total sales of two billion MNT. The expo was also attended by Mongolian and Chinese officials from ministries and organizations, governors of Inner Mongolia’s provinces and cities, business delegations and representatives from Hong Kong, Macau, and Taiwan.
Minister Erdenebat added, “I just visited one of our domestic pavilions, it was crowded and there was no space to stand. I believe that Mongolian businesses showed the two countries the quality of Mongolian products.”
During the expo, MP S.Byambatsogt said, “China is a country with highly developed industry. The country exports their products to Europe and Japan, paying high taxes. By investing in Mongolia, building industries, and creating jobs, China will be able to export their products under pleasant tax terms. Mongolia’s economy is shrinking, and in times when budget revenue is seeing a shortage, Mongolia needs investment like it needs water and air. Everyone needs to work to develop Mongolia, create economic growth, increase jobs, and produce value-added products.”
Mongolian delegates emphasized that Europe and Asia are huge trade markets. They noted that the expo opened up possibilities for Mongolia to profit from the Steppe Road and Silk Road projects, as well as develop the domestic industry sector and create wealth by utilizing the country’s raw material resources.
At the end of the expo, Mongolia and China signed a memorandum to organize the expo every two years.

Short URL: http://ubpost.mongolnews.mn/?p=16614

Posted by on Oct 27 2015. Filed under Онцлох мэдээлэл. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

Leave a Reply

8 + 3 =

Recently Commented

  • Oyun: www.theblueeconomy.org
  • Honheree: It is a sad and awful sight to see so many animals dead from dzuds. These have happened in the past and since 2004 there have...
  • Harvey Dent: Mongolia does not get 476,000 tourists a year. Its gets 476,000 arrivals, most of these are Chinese construction workers....
  • Honheree: It is good but unusual that a Mongolian is so forthright. I am D. Ganbold will be criticised by Mongolians for telling the...
  • Honheree: Be thankful Mongolia is so cheap. In USA lamb in stores costs 69,281 MNT /kg and sirloin which is cheaper cut of beef is...