Agreement signed on Chinese grant for CNY40 million

Chinese and Mongolian Ministers signed several agreements on bilateral
cooperation in Shanghai
on Saturday as President Ts.Elbegdorj looked on. Foreign Minister
G.Zandanshatar and China“s
Minister of Commerce Chen Deming inked an economic and technical cooperation
agreement on a Chinese grant worth CNY40 million. This was followed by another
on opening cultural centers in Beijing and Ulaanbaatar. This was
signed by Minister of Education, Culture and Science Yo.Otgonbayar and Cai Wu,
Minister of Culture of China.

Earlier on the day, President Hu Jintao hosted
an official welcome ceremony for the visiting Mongolian Head of State. In their
talks, President Elbegdorj reiterated that continuing with and further
strengthening good relations with China
was a priority area in Mongolia“s
foreign policy. He noted how bilateral economic ties were ever
increasing.

President Hu Jintao underlined that cooperation with Mongolia was not only mutually
beneficial but was also useful for regional development. China was ready to help implement programs in Mongolia and to
render financial and technical assistance for large projects. He urged Mongolia to make the most effective use of the
assistance it received from China.

The two leaders exchanged views on the regional situation. Hu said China wanted a more active role for Mongolia in
regional matters. Elbegdorj invited him to pay a visit to Mongolia.