Eight Cooperation Documents Signed Between Mongolia and China

Last Updated on November 8, 2024 5:47 am

Prime Minister of Mongolia Oyun-Erdene Luvsannamsrai held an official meeting with Premier of the People’s Republic of China Li Qiang on November 5, 2024, during his working visit to attend the 7th China International Import Expo in Shanghai, China.

 The Heads of Government of the two countries exchanged views on a wide range of issues on expanding the Comprehensive Strategic Partnership between the two countries and developing mutually beneficial cooperation in all sectors and reached crucial agreements. The sides noted that this year marks the 75th anniversary of the establishment of diplomatic relations between Mongolia and China, the 30th anniversary of the Treaty of Friendly Relations and Cooperation, and the 10th anniversary of the Comprehensive Strategic Partnership, and expressed their satisfaction with the successful development of the Mongolia-China Comprehensive Strategic Partnership in all sectors.

 The Premiers agreed to closely work together to coordinate development strategies, increase bilateral trade volume to USD 20 billion in the near future, diversify trade, interconnect border ports, strengthen the legal basis of bilateral relations and cooperation, intensify projects and programs to be implemented with Chinese grants, cooperate in reducing traffic congestion in the Capital City of Mongolia, and expand cooperation in areas such as the environment, health, education, science, innovation, renewable energy, green and e-economy.

 Noting the success of the first meeting of the Heads of Government of Mongolia, China, and Russia in Islamabad, Pakistan last month, the parties concurred to further strengthen trilateral cooperation between Mongolia, China, and Russia.

The two sides agreed to engage in mutually beneficial cooperation on a number of major projects in the energy, industry, and mining sectors within the framework to implement 14 mega projects and 14 systemic reforms that the joint Government of Mongolia aims to do in the next four years. The Government of Mongolia intends to learn from China’s rich experience in implementing these projects and making the transition, implementing joint projects and programs, raising funds, and training human resources in the long and short term.

 During the working visit of Prime Minister Oyun-Erdene to China, the parties signed the following eight cooperation documents:

1. Loan Agreement for the Erdeneburen Hydropower Plant Project;
2. Loan Agreement for the Project to Improve Access, Quality, and Control in the Telecommunications Sector;
3. 3.Exchange of Letters of Understanding for the Implementation of the Project to Build a Sports Complex Named After the Presidents;
4. Memorandum of Understanding on Investment Cooperation in the Green Development Sector between the Ministry of Economy and Development of Mongolia and the Ministry of Commerce of the People’s Republic of China,
5. Memorandum of Understanding on Cooperation between the Agency for Standards and Metrology of Mongolia and State Administration for Market Regulation of the People’s Republic of China,
6. Memorandum of Understanding on Cooperation in the Field of Competition between the Agency of the Antimonopoly of Mongolia and the State Administration for Market Regulation of the People’s Republic of China
7. Protocol between the Ministry of Food, Agriculture and Light Industry of Mongolia and the General Administration of Customs of the People’s Republic of China on Veterinary and Sanitary Requirements for Exports of Proteins and Fats for Animal Feed from Mongolia to the People’s Republic of China,
8. The agreement between the Government of Mongolia and the Government of the People’s Republic of China on the Joint Construction of the Cross-Border Railway Bridge between the Gashuunsukhait-Gantsmod Ports.

 As an outcome of the documents signed, the Erdeneburen Hydropower Plant Project and the Cross-Border Railway Bridge between the Gashuunsukhait-Gantsmod Ports Project, which have been stalled for many years and included in the 14 mega projects determined to be implemented by the Government of Mongolia, empowered to be realized. A total of 11 projects are planned to be financed within the framework of the general loan agreement of USD 1 billion provided by the Government of the People’s Republic of China, one of which is the construction of the Erdeneburen Hydropower Plant. The conclusion of the intergovernmental loan agreement resolves the financing of the USD 253 million Project.