AKIPRESS.COM - Russia and China plan to open a new cargo transit corridor through Mongolia by the end of the year, reported Sputnik referring to Alexei Dvoinykh, the head of the Russian Transport Ministry's Agency of Automobile Transport.

"The signing is planned as early as December this year… According to preliminary estimates, the cargo flow will increase by 17-20 percent due to the rearrangement of transport movement," Dvoinykh said.

The new agreement will allow Russian cargo carriers to reach Beijing and the port city Tianjin in contrast to the current practice of hauling cargo to the nearest border town. The new route will stretch between the Siberian city of Ulan-Ude, pass through the Mongolian Capital Ulaanbaatar and head for Beijing.