Mongolia, China to promote bilateral economic cooperation

ULAN BATOR - A China-Mongolia economic and trade conference opened here Friday to promote bilateral economic cooperation.

The event, jointly organized by the Mongolian National Chamber of Commerce and Industry and China's Inner Mongolia International Trade Promotion Association, was aimed at providing a platform for cooperation between Chinese and Mongolian enterprises.

Present at the gathering were representatives from dozens of large State-owned companies from Inner Mongolia, including Baotou Iron and Steel Group Company and Inner Mongolia Electric Power Group, which introduced their development plans and the programs they intended to implement in cooperation with Mongolian enterprises.

China-Mongolia trade amounted to $6.3 billion in 2011, accounting for 56 percent of Mongolia's total foreign trade.