Mid-term Roadmap for Development of Trilateral Co-operation between China, Russia and Mongolia
On 9 July 2015, Xi Jinping, China’s President, held his second summit with Russia and Mongolia. Both President Vladimir Putin of Russia and President Tsakhiagiin Elbegdorj of Mongolia attended the session in the Russian city of Ufa.
The meeting resulted in formal approval of the Mid-term Roadmap for the Development of Trilateral Co-operation between China, Russia and Mongolia. It was also agreed that the Planning Outline of China-Russia-Mongolia Economic Corridor Co-operation is to be formulated to align the Silk Road Economic Belt with the establishment of the Eurasia Economic Union and the Steppe Road Initiative.
At the same time, in order to further enhance trilateral trade facilitation (including expanding the use of local currency in reciprocal trading), the three parties determined to look into the possibility of setting up a co-operation mechanism for their respective economic and trade departments. It was also agreed that efforts will be made to improve the co-operation mechanism for industrial associations and chambers of commerce in the three countries. At the same time, consideration will be given to advancing customs co-operation, exploring the possibility of establishing a joint company for China-Russia-Mongolia rail transport and logistics, strengthening co-operation in the technological sector, and promoting investment in infrastructure facilities construction projects.
For further details in Chinese, please click here.