China, Mongolia Agree to Expand Trade, Economic Ties

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Last updated at: (Beijing Time) Friday, June 06, 2003

China, Mongolia Agree to Expand Trade, Economic Ties

China and Mongolia agreed on Thursday to make great efforts to promote mutually beneficial trade and economic cooperation.

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China and Mongolia agreed on Thursday to make great efforts to promote mutually beneficial trade and economic cooperation.

A joint declaration issued at the end of Chinese President Hu Jintao's two-day state visit to Mongolia said that both sides are satisfied with the progress made in bilateral trade and economic cooperation in recent years.

The two sides agreed to make great efforts to expand mutually beneficial and reciprocal economic and trade ties by seeking more channels and wider scope for diversified cooperation, the declaration said.

Incentives should be provided to increase trade and investment,it said, adding that efforts should be made to deepen their cooperation in mining and processing industries.

They also agreed to make the tapping of natural resources and the development of infrastructural facilities the key areas for future cooperation between the two countries, and decided that a new air line between China and Mongolia should be opened at an early date.

As part of the efforts to expand cooperation in tourism, China decided to include Mongolia on the list of destination countries for Chinese tourists. In addition, China and Mongolia will strengthen their cooperation in environmental protection and the fight against desertification, and increase cultural, educational and techno-scientific cooperation and exchange of personnel, the declaration said.

They also pledged to build the long China-Mongolia border into a bond of peace, friendship and cooperation.

During President Hu's visit here, China and Mongolia signed an accord on economic and technological cooperation and reached an agreement to make an extra run on the international train service between Beijing and Ulan Bator, beginning later this month.

The Mongolian side expressed its thanks to China for always being ready to help it in its economic development and support cooperation between the two countries, including providing loans on favorable terms and other kinds of economic aid to Mongolia.

The two countries also decided to increase contact and exchangeof information between the departments concerned as part of the joint efforts to combat severe acute respiratory syndrome (SARS).

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