China, Russia and Mongolia have agreed to further promote trade and investment facilitation so as to boost regional economy.

The agreement was made at the 14th China-Russia-Mongolia Business Forum in Arxan, Inner Mongolia on June 13. More than 230 delegates from trade and investment promotion agencies, chambers of commerce and industry as well as enterprises from the three countries participated in the forum.

Vice Chairman of China Council for the Promotion of International Trade (CCPIT) Chen Zhou hailed the tripartite business forum as promoting the regional economic and trade ties.

“The economy of China, Russia and Mongolia is complementary. China’s Silk Road Economic Belt Initiative is highly compatible with the development strategies of Russia and Mongolia. The chambers of commerce and industry of the three countries shall jointly build more business exchange platforms to facilitate trade and investment, encourage business community to participate in the construction of China-Russia-Mongolia economic corridor, foster regional capacity cooperation and connectivity and enhance the sub-regional economic and trade cooperation,” added Chen.

Delegate from the Chamber of Commerce and Industry of the Russian Federation (CCI of Russia) said, the China-Russia-Mongolia trilateral economic and trade cooperation has been in fast growth in the past few years. The cooperation in infrastructure construction, industrial parks, tourism industry has been the impetus and engine of the sub-regional economic development. He expected to see a diversified trade and investment plan to be mapped out for deepening regional business cooperation.

General Secretary of Mongolian National Chamber of Commerce and Industry (MNCCI), E. Oyuntegsh said, the tripartite business forum has played an important role in promoting regional economic and trade cooperation. He suggested the business community from the three countries continue to drive the government in free trade area negotiation, facilitate and liberalize trade and investment and foster cooperation in pillar industries, such as food processing, culture and tourism.

Source: CCPIT