China and Mongolia sign over 100 commercial and industrial deals

By bne IntelliNews October 29, 2015

China and Mongolia have signed over 100 commercial and industrial agreements, deals, and memorandums of understanding (MoUs) during the first Mongolia-China Expo hosted in Hohhot in the Inner Mongolian Autonomous Region of China, Mongolia’s news website Monstame.mn reported October 27.

The deals and the Expo are part of a larger initiative to increase economic ties between the countries based on of the Joint Declaration on the Development of Comprehensive Strategic Partnership signed between the leaders of the two countries during Chinese President Xi Jinping’s visit to Mongolia in August 2014. The agreements also play into China’s New Silk Road initiative, a vision to develop trade between China and neighbouring countries across the Eurasian continent.

Mongolia and China plan to increase total annual trade between the two countries to $10bn, from $6.8bn in 2014, the report quoted Mongolia’s Minister of Industry Dondogdorjyn Erdenebat as saying. 

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