China, Mongolia to expand cooperation in trade and investment

China and Mongolia agreed to expand cooperation in trade and investment when Chinese Premier Li Qiang met with Mongolian Prime Minister Luvsannamsrai Oyun-Erdene, who is in Shanghai to attend the 7th China International Import Expo (CIIE), on Tuesday.

Li and Oyun-Erdene also agreed to tap into the potential of cooperation in emerging areas such as artificial intelligence and green development 

The Chinese premier said that under the strategic guidance of the two heads of state, China and Mongolia have maintained sound, stable momentum in their bilateral relations in recent years. China values its friendly cooperation with Mongolia highly, and considers Mongolia a priority in its neighborhood diplomacy, he noted.

He said that both sides should implement the important consensus reached by the two heads of state to deepen practical cooperation for the benefit of the two peoples.

Li noted that China will align its development strategy with Mongolia further, step up trade and investment cooperation, and enhance cooperation on infrastructure construction in such areas as port connectivity, mining and hydropower stations.

The premier encouraged both sides to tap into the cooperation potential of emerging industries such as the high-tech and green development sectors, and support more capable Chinese enterprises to invest and do business in Mongolia.

China will work with Mongolia and other Asian countries in the pursuit of peace, solidarity and cooperation, and enhance exchange and coordination within the frameworks of multilateral mechanisms such as the Shanghai Cooperation Organization.

Oyun-Erdene said that Mongolia abides firmly by the one-China policy, and is willing to maintain mutual respect and support on issues bearing on each other's core interests.

Mongolia stands ready to deepen mutually beneficial cooperation with China in such areas as energy, urban planning and desertification control, and explore cooperation in new fields including artificial intelligence, green development and human resources, he said.

(With input from Xinhua)