Mongolian PM expects improvement of relations with China

Mongolian Prime Minister Norov Altanhuyag, in a recent interview with Xinhua prior to a scheduled visit to China, said he expects improvement of relations between his country and China in multiple fields. Mongolia and China will strengthen cooperation in trade, political, security and other areas while bilateral economic and trade cooperation are expected to reach a new level, said Altanhuyag. At the invitation of Chinese Premier Li Keqiang, Altanhuyag will officially visit China on Oct. 22-26. On future cooperation between two countries, Altanhuyag said Mongolia and China will formulate long-term strategic partnership development outlines, and strengthen cooperation in the fields of trade, politics, defense, security, etc., especially economy and trade. Altanhuyag believes that Mongolia is located in a junction between Asia and Europe, and closely connects China with Europe and other parts of Asia by railways, roads and other links. Mongolia supports China in strengthening economic and trade ties with Central Asian countries, and will also actively participate in the construction of a "Silk Road Economic Belt", according to Altanhuyag. Altanhuyag expects Chinese entrepreneurs to choose to invest in Mongolia. He said that tax rates in Mongolia are lower, and the new investment law passed by the State Great Hural (Parliament) this month will help to stabilize the level of taxation and the investment environment, which will relieve investors from worries about possible uncertainties arising from the investment environment in Mongolia. In June 2011, China and Mongolia set a strategic partnership. Statistics show that in 2012, bilateral trade volume reached 6.6 billion U.S. dollars. China has been Mongolia's largest trade partner and investor country for many years.