Credited to Howard Lambert of ING in Mongolia. Source: Global Times Eyeing cooperation in the energy sector, Chinese President Xi Jinping will embark on a State visit to Mongolia from August 21 to August 22 at the invitation of Mongolian President, foreign ministry spokesperson Qin Gang announced on Thursday. It will be Xis first State visit to Mongolia and his second solo presidential trip since he took office, which observers say indicates the distinctive role Mongolia plays in Chinas diplomacy. Mongolian people have a good impression of Xi, Tsagaan Puntsag, chief of staff of the Office of the President of Mongolia, said during an interview. His visit will be historic. We believe both countries will reach agreement in many important topics. China and Mongolia are expected to sign important documents covering areas such as energy, mining and infrastructure, Jigjid Rentsendoo, State Secretary of Mongolias Ministry of Mining, said during an interview on Tuesday in Ulaanbaatar. The two countries are also seeking to sign an initial agreement on a gas project which includes construction of two coal-to-gas plants with 95 percent of the output going to China through pipelines, according to Erdenebulgan Oyun, vice-minister of Mining, the Bloomberg reported. Transportation will be another important subject during Xis visit, as Mongolia would like to discuss access to more Chinese harbors, said Tsagaan, who declined to give more details. China currently allows Mongolia to use its Tianjin port so that the country can trade its goods with other countries in the Asia Pacific region. It is very important for Mongolia to ship its coal to other markets through the sea, said Jigjid.We believe that Xis visit will push for cooperation in that field. Coal comprises a big part of Mongolias export revenue and the country has been seeking to expand its coal exports to countries other than China. Xis trip will come roughly two weeks ahead of Russian President Vladimir Putins visit to Mongolia in early September. Bordered by Russia in the north and China in the south, Mongolia is landlocked and relies heavily on its two neighbors for access to ports. Bilateral trade between China and Mongolia has reached some $6 billion in 2013. China has long been Mongolias biggest trading partner and a major source of foreign investment. ------------------------------------------------------------------------------- This Bloomberg Message session is subject to the ING Disclaimer. You acknowledge that you have obtained a copy of the ING Disclaimer and have read the same, and you hereby agree to, the terms of use and disclaimers set out therein. Conversations are subject to recording and/or monitoring by ING and may be disclosed to government or regulatory authorities if required under law.
Posted on: Fri, 15 Aug 2014 03:20:30 +0000
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