Ulaanbaatar, June 8, 2023 /MONTSAME/. The 16^th Trade and Economic Forum of the Chambers of Commerce and Industry of Mongolia, China, and Russia is being held in Mongolia on June 8-9, bringing together over 450 representatives of the business communities of the three countries. 

During the two-day forum, the CCIs are discussing and exchanging ideas on opportunities for cooperation, trade, and investment within the framework of the Program for Creating the Economic Corridor China - Mongolia - Russia, which is an important document for the development of cooperation between the three countries.

Opening the Forum, President of the Mongolian National Chamber of Commerce and Industry O. Amartuvshin said, "The role of the Chambers is important in stimulating cooperation of free zones in the economic corridor and increasing investment." He noted that businessmen will have more opportunities to cooperate in the projects included in the economic corridor program. Mr. O. Amartuvshin informed that by the end of 2022, Mongolia's foreign trade turnover reached USD 21.2 billion, of which trade with China accounted for 64 percent and with Russia accounted for 12.7 percent.

President of the Chamber of Commerce and Industry of the Russian Federation S.N. Katyrin noted, "A new opportunity for trade and economic relations between Russia and Mongolia has opened up, and we are at the beginning of a long journey. In the "new" economic conditions, attention should be paid to more comprehensive forms of cooperation, for example, joint ventures, transition to production, mutually beneficial investments. Russian companies can effectively cooperate with Mongolian partners in upgrading and building energy facilities. The future of cooperation in the fields of modernizing the main facilities of Mongolia's transport and logistics infrastructure, building a modern transport and logistics center in Ulaanbaatar, introducing modern technology to production, developing e-commerce and digital markets, and using cross-border information technology solutions can be seen."

Vice Chairman of the China Council for the Promotion of International Trade Zhang Shaogang said, “Our committee attaches great importance to the cooperation of the three countries. Business people are the main force and direct beneficiaries of economic and trade cooperation. Possibilities are open to the businessmen of the countries to actively participate in the construction of the Economic Corridor, expand the scope of traditional trade, renew trade methods, and develop cross-border e-commerce."

 Mr. Zhang Shaogang underlined that the China Council for the Promotion of International Trade has announced this year as the "Year of Innovation Progress" and invited the entrepreneurs of the three countries to participate in the International Innovation Forums to be held in Beijing and Macao.