Prime Minister J.Erdenebat is paying a visit to the People’s Republic of China. He paid a courtesy call on the Chinese President Xi Jinping on Friday. The sides affirmed mutual interests in upgrading the comprehensive strategic partnership with new contents of cooperation.

PM J.Erdenebat extended gratitude to Xi Jinping for inviting him to attend the Belt and Road International Cooperation Summit, and congratulated on the fact that the Belt and Road has been receiving great international support.

Chairman Xi Jinping said “Many deals have been put into action since I had carried out a visit to Mongolia in 2014. In the future, Mongolia-China relations have to stand on more concrete foundation”. He also said, while quoting the saying ‘close neighbor is better than a distant friend’, that Mongolia and China should aspire to stay together to benefit from the global growth.

The dignitaries agreed on the view that coordination of Mongolia’s Development Road Program with the Belt and Road initiative opens new opportunities for Mongolia and China to boost ties and that Mongolia can prosper by taking active part in the Belt and Road, as the country is already located in the heart of Belt and Road zone.

Chinese side expressed its readiness to assist Mongolia in overcoming the temporary constraints facing Mongolian economy. At first, the Chinese side notified about the extension of SWAP agreement term between the People’s Bank of China and the Bank of Mongolia. China is providing financial aid of CNY 350 million to Mongolia at the moment.

Mr Xi Jinping mentioned that Mongolia and China have shared development strategy on promoting comprehensive development of major mining projects in Mongolia, such as Tavantolgoi and Oyu Tolgoi’s concentrate plant, and in building their respective transport railroads and energy supply stations.