PRESIDENT ATTENDS MONGOLIAN-CHINESE BUSINESS FORUM

Ulaanbaatar, /MONTSAME/ President Tsakhia Elbegdorj expressed his hope for closer economic and trade ties with China while attending the China-Mongolia Business Forum in Beijing April 29. Mr Elbegdorj is paying a state visit to China from April 28 to May 3 at the invitation of Chinese President Hu Jintao.
"...Not only scholars and experts but also we have been looking at world production, trade and market direction lead to the Asian region. Today, everyone speaks and writes about rapid economic development of China. As neighboring with China, Mongolia must fully exploit this rapid development for promoting own economy. All of you of private sector and businesses are the key mobilizer to realize it," the President said in his speech at the forum.
The forum is attended by 200 business representatives of largest companies and firms of Mongolia and China. Delegates from the Ministry of Mineral Resources and Energy, the Ministry of Road, Transport, Construction and Urban Development and the Ministry of Food, Agriculture and Light Industry were present at the event to make presentations on possibilities of economic cooperation.
China is one of the largest investors for Mongolia. As of the end of last year, it registered 4,297 Chinese-invested entities with investments of USD 2.3 billion in Mongolia. Last year, trade turnover between the countries reached USD 1.92 billion, of which USD 1.39 billion was export and USD 531.6 billion was import.
S.Batbayar