Prime Minister receives Finance Minister of China Lou Jiwei
Finance Minister of China Lou Jiwei paid a two-day official visit to Mongolia on April 28 upon the invitation of Mongolian Finance Minister Ch.Ulaan.
Within the frames of the visit Minister Lou Jiwei called on Prime Minister N.Altankhuyag. Beginning the meeting, N.Altankhuyag noted his satisfaction in the progress of the two country’s financial and economic cooperation with the launch of several vested projects started to be implemented as the result of his working visit to China last year. Also he expressed appreciation for the Minister paying a visit to Mongolia for mutually-beneficial cooperation in trade and finance sectors and for establishing agreements and memorandum in several fields.
In turn, Minister Lou Jiwei expressed appreciation for Prime Minister Altankhuyag’s support for the initiation of the Asian Infrastructural Investment Bank. Aware of the exceptional importance of infrastructure development in a landlocked country, the Government of Mongolia decided to join as a founder to the China initiated bank, the Prime Minister noted.
Prime Minister Altankhuyag asked the Finance Minister of China to support a prompt resolution by exchanging refreshed contracts between the two countries, which came to an end last month, and expressed that the Mongolian side is willing to extend the contract with increased cash flows.
At the meeting both parties also talked about financial and economic situations and the actions of the two Governments. Prime Minister N.Altankhuyag explained that the target measures “100 days to intensify the economy”, initiated by the Government, aims to enhance cooperation with other countries and increase the attraction of investment to Mongolia, thus improving government budget incomes.
In return the Finance Minister of China briefed the Mongolian side on the measures of the Chinese Government, in which it has trimmed the spending of its all ministries, as well as decreasing taxation to save 100 billion Chinese Yuan last year.
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