Prime Ministers of China and Mongolia Attend Mongolia-China Economic and Trade Cooperation Forum, with Leaders from China Hyway being Invited to Participate

On June 2, the Mongolia-China Economic and Trade Cooperation Forum was held at Chinggis Khaan Hotel, Ulaanbaatar, Mongolia. Hu Xiangsheng, Deputy General Manager of China Hyway Group Limited, and Lu Changping, Executive Deputy Manager of Hyway Mongolia Limited, were invited to participate in the forum on behalf of the company. Hu Xiangsheng, along with other Chinese enterprise representatives, was received by Premier Wen Jiabao for a group photo before the opening of the forum.

Group Photo of Wen Jiabao, Premier of the State Council, with Hu Xiangsheng, Deputy General Manager of China Hyway Group Limited, and Other Representatives Attending the Forum.

The forum was co-sponsored by the Ministry of Commerce of China and the Ministry of Foreign Relations and Trade of Mongolia and co-organized by the Investment Promotion Agency of the Ministry of Commerce of China and the Foreign Investment and Trade Agency of Mongolia. The forum comprises five sections: the opening ceremony, an analysis of China-Mongolia economic and trade cooperation policies and investment environment, infrastructure construction cooperation, agriculture and animal husbandry cooperation, and mineral energy cooperation. The forum invited officials from relevant competent departments and enterprise representatives in various fields from China and Mongolia to deliver speeches. It also organized a special entrepreneur exchange meeting. A total of over 280 Chinese and Mongolian entrepreneurs attended the forum, including 166 representatives from 89 enterprises in China. The governments and enterprises of China and Mongolia placed significant importance on the convening of this forum, marking a major event in economic and trade exchanges between the two countries in recent years. Premier Wen Jiabao of the State Council of the People's Republic of China and Batbold, Prime Minister of Mongolia, jointly attended the opening ceremony and delivered important speeches. Premier Wen Jiabao stated in his speech that, through the joint efforts of both sides, China-Mongolia economic and trade cooperation has achieved fruitful results and become a vital pillar for the development of bilateral relations. Currently, trade between the two countries is thriving, investment cooperation is increasingly dynamic, engineering cooperation has achieved remarkable results, and partnerships across various fields are continually expanding. China has been Mongolia's largest trading partner for 11 consecutive years. Several projects invested by China in Mongolia have effectively driven local economic development, enhanced Mongolia's independent development capacity, and exemplified the friendly cooperation between the two countries. The practice has proved that the traditional friendship between China and Mongolia is robust and the economic and trade cooperation is founded on equality and mutual benefit. We are good neighbors and partners. Premier Wen Jiabao pointed out that both China and Mongolia are experiencing rapid development, characterized by strong economic complementarity and expansive opportunities for economic and trade cooperation. He emphasized that both sides should seize the opportunity to engage in practical cooperation and jointly advance bilateral economic and trade relations. First, we should focus on promoting investment cooperation in the fields of mineral resource development and infrastructure construction. This should be combined with financial and technical support to aim for the early completion of several large-scale cooperative demonstration projects. Second, the Chinese government supports enterprises in importing more Mongolian agricultural and animal husbandry products and encourages them to invest more in projects that create more jobs and promptly improve people's livelihoods. Third, we should implement the Medium-term Development Outline of China-Mongolia Economic and Trade Cooperation, continue to strengthen research on strategic issues, and improve relevant laws, regulations, and mechanisms so as to create a favorable legal and policy environment for bilateral cooperation. Fourth, we should further consolidate and strengthen coordination under multilateral cooperation frameworks such as the Northeast Asian Regional Economic Cooperation, Shanghai Cooperation Organization, and Asia-Europe Meeting to provide greater development space for bilateral economic and trade cooperation. Premier Wen Jiabao believed that, through the collaborative efforts of the governments and entrepreneurs from the two countries, China-Mongolia economic and trade relations would continue to flourish and better benefit the people of both countries. Batbold stated in his speech that China is the most important trading partner of Mongolia. China has strengths in manufacturing and market, while Mongolia is rich in resources. The potential for economic and trade cooperation between the two countries is enormous. Mongolia hopes to strengthen mutually beneficial cooperation with China in the fields of energy and mineral resources development, transportation infrastructure, livestock products processing, and personnel training as their good-neighborly partnership of mutual trust continues to grow. The Mongolian side welcomes Chinese enterprises to actively expand investment in Mongolia and is committed to creating favorable conditions for them. After the opening ceremony, officials from competent departments of China and Mongolia and relevant enterprise representatives made speeches and exchanged views on economic and trade cooperation in fields such as infrastructure, agriculture and animal husbandry, and mineral energy. Mongolian officials and enterprise representatives expressed their eagerness to enhance collaboration with Chinese enterprises in the aforementioned fields. Meanwhile, relevant Chinese enterprises also shared their ongoing projects and valuable experience in Mongolia.