VLADIVOSTOK, September 5. /TASS/. Economic cooperation between Ulaanbaatar, Beijing and Moscow helps to build political trust, attract investment and boost regional integration, Mongolian Prime Minister Gombojavyn Zandanshatar said at the plenary session of the Eastern Economic Forum (EEF).
“The project to create a Mongolia-Russia-China economic corridor, which is aimed at developing and expanding multifaceted cooperation as part of comprehensive strategic cooperation between the three countries, undoubtedly helps strengthen political trust, attract investment and boost regional integration,” he pointed out.
Gombojavyn Zandanshatar highlighted the importance of the trilateral meeting between the leaders of Mongolia, Russia and China that had taken place in Beijing on September 2. The Mongolian prime minister stressed that Ulaanbaatar intended to advance the work to promote joint logistics and infrastructure projects with the two neighboring countries. These projects, which include Mongolia’s Steppe Road strategy, China’s Belt and Road initiative and the Eurasian Economic Union’s transport routes, will not only facilitate efforts to expand trade ties between Russia, China and Mongolia, but will also strengthen economic partnership between all Asian and European nations.
Gombojavyn Zandanshatar added that Ulaanbaatar placed great importance on a temporary trade agreement with the Eurasian Economic Union, which eliminated or reduced customs duties on 367 categories of goods. According to him, the accord opened up new development opportunities for Mongolia. The premier emphasized that in the previous three years, the country’s average annual economic growth rate had stood at 6%, contributing to the overall regional development. Taking the new agreement into account, Mongolia will continue to diversify its economy, unlocking its potential in terms of international cooperation, the prime minister stressed.
The 10th Eastern Economic Forum is taking place in Vladivostok from September 3 to 6 under the theme “The Far East: Cooperation for Peace and Prosperity.” The business program will feature more than 100 thematic sessions divided into seven tracks. The forum is expected to bring together over 4,500 participants from more than 70 countries and territories. The Roscongress Foundation is the organizer of the EEF, with TASS as its general information partner.
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