TRILATERAL COOPERATION FORUM HELD IN HOHHOT

Hohhot /MONTSAME/ In frames of the 2nd Mongolia-China Expo, a high-level cooperation forum of Mongolia, China and Russia has taken place at the Khukh Tal Conference Center in Hohhot, Inner Mongolia, China. Representatives at the forum agreed with the importance for enhancing the governmental integrations and considering research works and studies of scholars to establish an economic corridor of the three countries. B.Sanjmyatav, Vice Speaker of Parliament, reported about some statistics of Mongolia-China trade, saying that the bilateral trade turnover reached USD 4.4 billion in first eight months of this year. He added that investments of USD 5 billion were made from China in the years 1990-2017 to Mongolia, and the sum made up 27.4% of total foreign investments to Mongolia. "Inner Mongolian Autonomous Region has contributed to the Mongolia-China cooperation in the sectors of trade, economy, culture and education, Sanjmyatav said, and underlined the Expo would expand the cooperation and open new opportunities in the economic and trade spheres," Sanjmytav said. “About 100 business contracts were initialed during the previous year’s Expo. It allows the parties to promote their products and services, but also enjoy opportunities to widen their partnership and make investments. For instance, the countries agreed to establish centers for proposal formulation and investment planning, in accordance with a cooperation memorandum signed last year. In scope of it, we will boost seven main sectors, and 32 projects will be implemented on railway, transit transportation and highway. Thanks to organizing the Mongolia-China Expo, the bilateral trade turnover is expected to reach USD 10 billion by 2020,” he underlined. Mongolia was represented by over 1,600 people at the forum.