Trade Turnover between Mongolia and China Exceeds USD 12.5 Billion
The representatives of over 60 companies of the Inner Mongolia Autonomous Region of the People’s Republic of China took part in a business forum held at the Mongolian National Chamber of Commerce and Industry (MNCCI).
The Vice President of the International Trade Promotion Council of the Inner Mongolia Autonomous Region Miao Zeng Wei delivered an opening address of the Forum.
Increase of foreign trade between Mongolia and China in recent years shows that there is an opportunity to further expand the trade and economic relations between the two countries. In particular, the market of Inner Mongolia has always been the largest market for the Mongolian export goods, and the International Trade Promotion Council of Inner Mongolia and the Mongolian National Chamber of Commerce and Industry have been closely cooperating in this respect.
At the recent Trade and Investment Meeting between Mongolia, China and Russia organized in Ereen, and the Fourth Mongolia and China Expo held in Hohhot, Mongolia participated with a large number of companies presenting investment projects and discussed about the possibilities of further expansion of cooperation. Within the framework of the official visit of the Mongolian Prime Minister L. Oyun-Erdene to China last June, the Forum on Trade and Economic Cooperation between Mongolia and China was successfully organized in Beijing. More than 600 entrepreneurs from the two countries participated in the Forum and signed 25 contracts worth USD 2.2 billion.
Over 60 companies, such as Energy technology and production company "Shuangliang", "Northern Rare Earth Group", "Bugat Iron and Steel Group" from Bugat, biopharmaceutical production company "Jinyu Baolin" from Hohhot, medical hospitals, pharmaceuticals, medical international exchange and cooperation center from Holonbuir, Adis Mongolian medicine from Tongliao city, Xinyuan and Luton trade technology from Ulaantsav, and Guan Zi technology from Bayannuur participated in the Forum and B2B meetings to introduce their activities, business relations and cooperation proposals to Mongolian counterparts.