| President Xi’s State Visit to Mongolia |
- The visit is the first in 11 years by a Chinese head of state to Mongolia
- The visit is Present Xi’s second State visit since he took office.
- Fruits were reached during President Xi’s state visit to Mongolia, including but not limited to:
- A joint declaration to upgrade bilateral ties to a comprehensive strategic partnership.
– The target is to expand two-way trade to $10 billion by 2020
- speeding up cooperation in
– rail and road connectivity,
– mineral resources development, and
– processing and finance, among many other areas.
- setting up an economic cooperation zone and a deal on currency swap
- supporting Mongolia to create a better investment environment
- helping Mongolia to join the Asia-Pacific Economic Cooperation (APEC) mechanism.
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| Historical developments of Relationships between the Two Countries |
- In 2003, a good-neighborly partnership of mutual trust was established.
- In 2011, the ties to a strategic partnership were elevated.
- In trade aspect,
– In 2002, the trade between the two countries was $324 million
– In 2013, the trade surged to $6 billion.
– Over the past 10-plus years, China has been Mongolia’s largest trading partner and largest source of foreign investment.
- In tourism aspect, over 1 million Mongolians visited China in 2013.
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| President Xi’s Four-point Proposal for Two Countries |
- to enhance political and security cooperation;
- to comprehensively expand practical cooperation;
- to enhance people-to-people exchanges;
- to promote cooperation on international affairs and under multilateral mechanisms.
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