AKIPRESS.COM - Prime Minister of Mongolia Oyun-Erdene Luvsannamsrai delivered remarks at the opening of the 7th China International Import Expo, held on November 5, Montsame reported.
"Mongolia, strategically positioned at the intersection of Asia and Europe, actively participates in this expo as a platform to enhance economic ties with not only neighboring China but also with other countries. In 2023, the trade turnover between the two countries reached $17.6 billion, and both sides are aiming to increase it to $20 billion. Mongolia is coordinating its medium- and long-term development policies, including Vision-2050 and the New Revival Policy, with China’s Belt and Road Initiative and the Global Development Initiative. Mongolia is engaged in close partnerships with major companies like China Energy and China National Petroleum Corporation (CNPC), for coal and energy initiatives, as well as hydropower plants, and railways projects," Prime Minister Oyun-Erdene stated.
The Prime Minister emphasized that the government of Mongolia is working to install a new economic structure by using artificial intelligence-based digital and smart technologies as accelerators for development, by implementing a green development transition, and by prioritizing the transition in human resources to plan for Mongolia's future growth.
Mongolia's enterprises are exhibiting their agricultural products, including globally recognized wool and cashmere while emphasizing the mining sector's development and market potential. The aim is to elevate Mongolia from a natural resource supplier to a production-based provider, the PM noted.
"We are committed to fostering a favorable legal environment for investors, advancing digital and transparent governance, and upholding mutually beneficial cooperation. We stand ready to engage in a partnership of mutual learning and benefit with all of you," the PM added.
Following his speech, the Premier visited the pavilions of Mongolian companies participating in the Shanghai Expo. Over recent years, Mongolian wool and cashmere producers and beverage companies have taken part in this event. This year, more than ten Mongolian enterprises are participating, including Erdenes Mongol LLC, a member of the Mongolian National Mining Association, and its affiliate Erdenes Tavantolgoi JSC, as well as Newcom Group, Max Group, and Capital Markets Mongolia. During the expo, Mongolia will present information on mining sector projects in need of investment and promote the Mining Week-MinePro 2025, to be held next year.