Both China and Mongolia work very closely and diligently to strengthen ties of commerce and friendship between the people of both nations. It is through the joint efforts and hard work of the governments of China and Mongolia, together with businesses, that we have achieved great accomplishments in economic and trade cooperation, and that such collaboration has become an important pillar for the development of bilateral relations. Currently, commercial exchanges between both countries are flourishing, with cross-border investment and cooperation becoming increasingly common. China has been the largest trading partner of Mongolia for 11 consecutive years.

China’s investment projects in Mongolia effectively promote the development of the local economy, and serve as a model of friendly Sino-Mongolian cooperation. Through collaboration on joint projects, Chinese companies have not only constructed a number of urgently needed major infrastructure facilities for Mongolia, but also cultivated the talent of local engineers, technicians and management personnel, thus enhancing Mongolia’s capacity for self-development. Our recent history shows that the traditional friendship between China and Mongolia is solid, with mutual benefits arising from economic and trade cooperation. We are good neighbours as well as good partners.

China and Mongolia are both developing rapidly; both parties have highly complementary economies and have broad prospects for economic and trade cooperation. Our governments, along with entrepreneurs from both countries, should grasp these opportunities and jointly push forward economic and trade relations. In that regard, I would like to put forward a few suggestions. First, we should cooperate more on investment in Mongolia’s mineral resources and the building of its infrastructure. Mongolia needs financial and technical support for this endeavour, which China is able and willing to provide. Both nations should push for the completion of a number of major projects at the earliest possible time, in order to drive the development of comprehensive bilateral economic and trade relations. China is interested in strengthening cooperation with Mongolia on energy resources, railways, highways, ports, and telecommunications. In addition, the two nations should work to develop and expand the fields of environmental protection, logistics, tourism and technology, and we hope that Mongolia can support Chinese enterprises that participate in these projects.

Second, China encourages its enterprises to import more farm and animal husbandry products from Mongolia and promotes investment in projects that create more jobs and improve the livelihood of local residents. China wants to assist in the diversification of Mongolia’s economic growth and support agriculture, education, health and poverty reduction. Third, both parties should make specific efforts to implement the “Medium-Term Development Guideline for Sino-Mongolian Economic and Trade Cooperation” and continue to strengthen research on strategic issues. Both parties should improve rules and agreements governing cooperation in relevant areas, in order to create a favourable legal and policy environment for bilateral cooperation.

Fourth, both countries should strengthen their ties within such multilateral frameworks as the North-east Asia regional economic cooperation, the Shanghai Cooperation Organisation and the Asia-Europe Meeting, and Altay Regional Cooperative Organisation. This includes actively promoting commercial, investment, logistical, economic and technological cooperation within the framework of the greater Tumen initiative, and enhancing collaboration between China, Mongolia and Russia. China firmly adheres to the policy of a “good, peaceful and prosperous neighbourhood.” We are committed to safeguarding the peace, stability, development and prosperity of our region.

I believe that through the joint efforts of both countries’ governments and entrepreneurs, Sino-Mongolian economic and trade cooperation will definitely continue to glow with vitality. Indeed, such close relations will be for the greater benefit of the peoples of both nations.