Thursday, August 28, 2014

China and Mongolia’s cooperation focused on bilateral benefits

The two-day visit of Chinese President Xi Jinping started with official bilateral negotiations between both state heads. Mongolia was expecting important results from their individual and official agreements. Both governments were expected to ink over 10 agreements, but the sides signed 24 agreements.

The Mongolian President emphasized that the most important results expected from the visit were resolutions on the issues on railway and transit transportation.

The only way for Mongolia to solve the problems of transit transport with the help of its southern neighbor. Thanks to the negotiations, Mongolia will have the opportunity to open transit towards the sea using eight Chinese ports. The new access will positively influence mining export products to “third” neighbors. A project to build a port railway started in spring, and negotiations on the port railway were renewed and agreements on bilateral port connections were signed.

President Ts.Elbegdorj guaranteed that the discussions would pose no threat to bilateral independence or the security of Mongolian borders, bilateral development would be respected, and there would be no Chinese involvement in internal issues.

He announced that Mongolia would live peacefully with its neighbor without any threat of attack. Most interestingly, the Mongolian President stated the acceptance of Mongolia’s sovereignty, no emphasis on international and regional military training, which can affect national interests and security, refusal of training from other countries, and not joining any new confederations.

It was clear that Chinese President Xi Jinping was placing high priority on bilateral cooperation in politics and security. He especially underlined, “Together we will protect defense, common security and always respect independence, authority and the path to development. We aim to have bilateral trust, to be good neighbors, good friends and have good partnerships.”

The Mongolian President suggested organizing a trilateral summit negotiation with Mongolia, China and Russia, which was supported by President Xi Jinping.

In the trade sector, the sides agreed to export Mongolian products to the Chinese market, especially agricultural products, without tax and limits. In addition, the sides discussed issues on energy export and import and decided to solve this issue within 2014.

The agreement on transferring prisoners will be implemented within three years. The bilateral credentials of this agreement were signed on June 16, 2011, in Beijing. On Friday, the protocol on exchanging the credentials was signed by the Minister of Justice Kh.Temuujin and Chinese Minister of Foreign Affairs Wang Yi.

The credentials will be valid 30 days after their signing, which means they will be effective on September 20, 2014. Mongolian nationals are incarcerated in 21 countries and 41 Mongolian nationals are in China, 16 in Hong Kong, and one in Macau. Thirty-six of the prisoners are involved in narcotics cases. Mongolia requested the transfer of 14 people from China.

Mongolia and China also signed mutual understanding credentials between Erdenes Mongol Ltd. and China Railway Engineering Corporation.

The President of Mongol Bank and President of Chinese National Bank Zhou Xiao Chuan signed a new agreement on increasing the currency swap exchange from 10 billion CNY to 15 billion CNY. Increasing the amount of currency exchanged will help provide foreign currency to the domestic market and support repayment in the foreign currency market, benefitting foreign trade and investment.

Source: Udriin Shuudan CH.KHALIUN

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