The ways of involving Mongolia in the programmes of China’s Belt and Road initiative and the intensification of its business cooperation with the Hainan Free Trade Zone (FTZ) have been discussed at a conference held in Ulaanbaatar. The event, organised by the headquarters of the Asian Economic Forum in Boao has been held in Mongolia’s capital, Ulaanbaatoar, for the first time.

According to the forum’s website, the conference is dedicated to the 70th anniversary of the establishment of diplomatic relations between China and Mongolia and is held under the motto “Interaction for the benefit of cooperation in the new era.”

In addition to the prospects of a comprehensive Sino-Mongolian partnership and the creation of new opportunities for bilateral projects with the participation of the Hainan FTZ, the conference has been paying attention to issues of universal development under the conditions of increasing pressure and protectionism from individual states, as well as to the problems of ensuring sustainable global development by strengthening multilateral international mechanisms.

The conference is being attended by over 300 representatives from international business and other experts. During the forum, a Sino-Mongolian diplomatic dialogue will take place, there will be visits to  the industrial sites of Mongolia and meetings of the participants with the heads of the trade and economic departments of the country. It is expected that the conference “will create even more significant opportunities for cooperation between the countries of the entire region,” the AEF headquarters noted.

The diplomat recalled that the Boao Forum conference was held in the Mongolian capital for the first time. Among its participants were the Prime Minister of Mongolia Ukhnaagiin Khurelsuh, Chairman of the Board of Directors of the AEF Ban Ki-moon, Executive Secretary of the United Nations Economic and Social Commission for Asia and the Pacific Armida Alisjabana.

Boao Forum for Asia, dubbed the Davos of the East, is a big platform for signing important agreements and international coordination between business and political elites, The forum has been held since 2001, usually in spring, following China’s main annual political event — the two sessions, where the Chinese authorities shape up the country’s national strategy.

The Boao Forum bacame the center of global attention in April, 2018, when China’s President Xi Jinping attended the opening ceremony. Speaking at the forum, the Chinese leader for the first time announced a number of important national policy highlights regarding the new market reforms, structural changes and boosting China’s openness. (Tass)