China-Mongolia Expo: Strengthening Economic Cooperation and Building New Partnerships
Hohhot, China – The 4th China-Mongolia Expo, held in Hohhot, Inner Mongolia Autonomous Region from September 6th to 10th, has proven to be a platform for strengthening economic cooperation between the two nations. With its value gradually increasing and its circle of friends expanding, this national-level bilateral expo has attracted participants from various industries and countries.
One notable participant is Purevjal Uyanga, the Minister of Purchasing and Supply Department of Mongolia Mark Group. Uyanga expressed his enthusiasm for the expo and his confidence in cooperation between China and Mongolia. “My first visit to Inner Mongolia gave me a refreshing feeling. The architecture, scenery, and economic construction here gave me full confidence in cooperation,” Uyanga said during an interview with reporters.
The China-Mongolia Expo has become an important event for both countries since its inception in 2015. Initially, the investment reached 148.59 billion yuan, with on-site transactions and intention agreements reaching 600 million yuan. In comparison, the fourth China-Mongolia Expo witnessed a significant increase in the total contract value, exceeding 300 billion yuan.
The expo has also served as a platform for expanding the circle of friends of the China-Mongolia Expo to more than 30 countries and regions. Countries such as Brazil, Argentina, and Chile have joined the circle, fostering new opportunities for economic cooperation. Additionally, this year’s expo welcomed Chinese tourists exploring the market and government and enterprise figures from five Asian countries.
With more than 3,000 companies from 35 countries and regions participating, the exhibits at the China-Mongolia Expo showcased a wide range of products. From red wine and beef to embroidery and intelligent sweeping robots, the expo highlighted the diversity and innovation present in different industries.
The expo has not only focused on economic and trade negotiations but also featured cultural exchange activities. The “Wanli Tea Ceremony” international cultural tourism promotion conference, as well as various seminars and meetings, contributed to the collaboration and mutual benefit between the two nations.
Inner Mongolia, with its strategic geographical location, has seen significant growth in foreign trade. From January to July 2023, the region’s foreign trade import and export scale exceeded 100 billion yuan for the first time, showing a year-on-year increase of 29.8%. Foreign trade imports and exports to countries participating in the “Belt and Road” initiative also saw a significant increase of 48.5%.
The participating officials from Mongolia praised the China-Mongolia Expo for its contribution to various fields of cooperation. Zingele, Chairman of the Mongolian State-owned Assets Policy Coordination Committee, emphasized the importance of the event and its role in Mongolia-China cooperation. Mongolian Deputy Prime Minister Amar Saikhan expressed optimism about achieving the trade volume target of US$20 billion by 2030, highlighting the expo’s significance in promoting bilateral trade.
The China-Mongolia Expo has truly become a stage for the world to share new development opportunities. As it continues to expand its circle of friends, the expo facilitates cooperation and creates a conducive environment for economic growth and partnership building.