32 projects to be implemented in scope of China-Mongolia-Russia economic corridor

Journalist A.Odontuya

2017-06-19 11:56 GMT+8

- The 2nd annual BCM Summit which is hosted by Business Council of Mongolia is being held under the theme “Regional Connectivity in Asia” to discuss opportunities in Mongolia to accelerate trade and economic development in Asia, today at Ikh Tenger Complex. -

The first panel on Regional Economic Integration: From Economic Necessity to Political Reality was attended by

  • V.Enkhbold, Director of Foreign trade and Economic Cooperation Ministry of Foreign Affairs,
  • Alex Gong, Executive director & Senior Vice President, Foun Group,
  • Haiming Xing, Ambassador of People`s Republic of China to Mongolia,
  • Og Song, Ambassador of the Republic of Korea to Mongolia,
  • Anastasiya Nabatchikova, Chief Administrative Officer, Bridgens,
  • Iskander Azzizov, Ambassador of the Rusian Federation
  • Ts.Tumentsogt. CEO, Erdenes Mongol.

The panel discussion was moderated by B.Byambasaikan, Board Member of Mongolian Business Council. 

Iskander Azzizov, Ambassador of the Russian Federation to Mongolia said that Russia and Mongolia reached an agreement to upgrade the Ulaanbaatar Railway Joint Venture Company.

Haiming Xing, Ambassador of People`s Republic of China to Mongolia emphasized "There are six economic corridors between Mongolia and China. China is ready to invest in order to develop those corridors.

Og Song, Ambassador of the Republic of Korea to Mongolia stated that "Korea and Mongolia are discussing to establish Economic Partnership Agreement and I hope that it will enable Korean investors to turn their attentions to Mongolia. However, we must remember that stable policy is very significant.

Moreover, a technological fund of Korea and Japan agreed to invest in Mongolia. A meeting of the fund was held in Tokyo and the next meeting is planned to be held in Ulaanbaatar on 18-19th of July, involving delegations of major technological companies of the two countries; namely Hyundai, Samsung and Mitsubishi etc".  

Heads of Russia, Mongolia and Chine agreed to implement 32 projects in scope of the China-Mongolia-Russia Economic corridor. Due to high number of projects, there is a necessity to choose the essential six projects that are needed to be implemented in near future.  V.Enkhbold, Director of Foreign trade and Economic Cooperation Ministry of Foreign Affairs noted that Mongolia chosen the priority six projects and submitted the proposal. 

The next meeting of Presidents of Russia, China and Mongolia is scheduled to take place in Ulaanbaatar city and the new President of Mongolia will attend. Panelists noted that the President T.Elbegdorj played a key role in establishing the China-Mongolia-Russia Economic corridor.

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