The Mongolia-China-Russia economic corridor is an important part of China’s Belt and Road Initiative (BRI).
Tuvshintugs Battsetseg, deputy director of the Department of Foreign Trade and Economic Cooperation at the Ministry of Foreign Affairs of Mongolia said that the economic corridor adopted by the three countries in 2016 will make significant contributions to the development of trilateral cooperation not only in the economic sector but also in fields including transportation and tourism.
The three countries have agreed to implement 32 projects under the framework of establishing the economic corridor.
The official said joint feasibility study is underway for reforming the central railway corridor, which is one of the three major projects under the construction of the tripartite economic corridor.
Mongolia has been supporting the BRI from the onset and actively participated in it, said Battsetseg, adding that her country has been focusing on “integrating its Development Road Initiative with the BRI.”
China has been one of the biggest trading partners and key investors of Mongolia for many years, she said, noting that Mongolia is interested in attracting foreign investment to its non-mining sectors.