Economic and technical cooperation agreement signed

Ulaanbaatar /MONTSAME/ An intergovernmental agreement on the economic and technical cooperation has been established between Mongolia and the People's Republic of China (PRC). It was inked June 10 in Ulaanbaatar by N.Batbayar, the Minister of Economic Development, and by Wang Xiaolong, the PRC Ambassador to Mongolia. Mr Batbayar said Mongolia intends to implement projects vital for the Mongolian socio-economy with the capital given by the agreement. He also mentioned that buildings of the Mongolian National Chamber of Commerce and Industry, the "Buyant-Ukhaa" sports complex and a central laboratory of the General Agency for Specialized Inspection have been constricted with non-refundable aid from China. The government of Mongolia aims to improve benefits of loans and assistance given by foreign countries and organizations, harmonizing them with the developmental policy and planning, and to exploit them in realizing projects and programmes in priority.