China's Xi reassures Mongolia over 'independence, integrity'

Chinese President Xi Jinping told Mongolia on Friday (Aug 22) that Beijing respected its independence and integrity as he concluded a visit looking to forge closer ties with China's resource-rich but often suspicious neighbour.

ULAN BATOR: Chinese President Xi Jinping told Mongolia on Friday (Aug 22) that Beijing respected its independence and integrity as he concluded a visit looking to forge closer ties with China's resource-rich but often suspicious neighbour. Xi was speaking in the Mongolian capital Ulan Bator after the two countries signed a raft of trade deals and made a commitment to almost double trade to US$10 billion (S$12.5 billion) by 2020.
"China respects Mongolian independence, integrity," Xi told the Mongolian parliament, the Great Hural, on the first visit to the country by a Chinese head of state in more than a decade, adding Beijing would maintain the policy "forever". Mongolia has vast mineral reserves but is dwarfed economically by its giant neighbour - by far its biggest customer - and resource nationalism has become the major issue in Mongolian politics. Beijing welcomes Mongolia to "board China's train of development", Xi added, according to Chinese state news agency Xinhua.
Bilateral trade soared to US$6 billion in 2013 from just US$324 million in 2002, and makes up more than half of Mongolia's total foreign trade, Xinhua said, and almost half the foreign enterprises registered in Mongolia are Chinese. But in 2012, Ulan Bator tightened approval requirements for foreign companies seeking to do business in "strategic" sectors such as minerals - measures which were seen as being aimed at China.
Mongolia's economy has rocketed in recent years - it enjoyed world-beating growth of 17.5 per cent in 2011, but coal prices and foreign investment have since fallen and expansion slowed to 5.3 per cent in the first half of this year, figures last week showed.
Sumati Luvsandendev, head of the Sant Maral Foundation, a research and polling group, said Mongolia had traditionally been "rather suspicious" of China's involvement in its economy, as "influence follows investment". But the newly-created middle classes have recognised that the country needs funds from its giant neighbour to maintain its development. "The problem is we have quite limited resources of our own in terms of labour and intellectual resources, so to implement big projects we have difficulties due to our limits," he told AFP.
Xi told the parliament he was pleased almost 30 deals had been signed during his visit, including a joint declaration to upgrade ties to a "comprehensive strategic partnership". China has also agreed to allow landlocked Mongolia to use its northern seaports, Xinhua said.
Jargalsaikhan Dambadarjaa, a Mongolian political commentator and television presenter, said his country recognised that many of the projects the two countries had agreed were "too big for Mongolia" to implement alone. For decades a tightly controlled Soviet satellite, Mongolia shook off Communism nearly a quarter of a century ago and has emerged as a vibrant parliamentary democracy.
Share:

0 comments:

Post a Comment

Facebook page

Powered by Blogger.

Categories

Advertising in Mongolia An Culture Editorial of the Mongolianviews education Environmental protection Famous Mongolians Foreigners in Mongolia Inner Mongolia Ivanhoe Mines Mongolia agriculture Mongolia analysis Mongolia and Australia Mongolia and Belorussia Mongolia and Cambodia Mongolia and Canada Mongolia and central Asia Mongolia and China Mongolia and Cuba Mongolia and EU Mongolia and Germany Mongolia and Hongkong Mongolia and Hungary Mongolia and India Mongolia and Inner Mongolia Mongolia and Iran Mongolia and Italy Mongolia and Japan Mongolia and Kazakhstan Mongolia and Korea Mongolia and Kuwait Mongolia and Malaysia Mongolia and Nato Mongolia and North Korean Mongolia and Poland Mongolia and Russia Mongolia and Singapore Mongolia and South Korea Mongolia and Taiwan Mongolia and the world Mongolia and Tibet Mongolia and Turkey Mongolia and UK Mongolia and Ukraine Mongolia and UN Mongolia and USA Mongolia and Vietnam Mongolia Banking Mongolia civic society Mongolia crime Mongolia diplomacy Mongolia Economy Mongolia Education Mongolia Energy Mongolia Finance Mongolia Health Mongolia History Mongolia holiday Mongolia in international media Mongolia Industries Mongolia Joke Mongolia law Mongolia LGBT Mongolia medical Mongolia military Mongolia Mining Mongolia Mining Developments Mongolia Mortgage Mongolia natural disaster Mongolia Petroleum Mongolia public announcements Mongolia railways Mongolia Religion Mongolia society Mongolia Sports Mongolia Stamp Mongolia telecommunication Mongolia tourism Mongolia Urbanization Mongolia Wild Life Mongolian Agriculture Mongolian Archeology Mongolian Food Mongolian Gay Mongolian Government news Mongolian History Mongolian Military Mongolian Mining Development Mongolian Movie Mongolian News Mongolian Parliament Mongolian Political news Mongolian Press Mongolian Songs Mongolian Women Mongolian Youth Mongolians abroad Moninfo Opinion Oyu Tolgoi Investment Agreement Photo news Press Release Rio Tinto Tavan Tolgoi coal mine Ulaanbaatar development Weird expatriates in Mongolia

Blog Archive

Followers

Live Traffic