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China and Mongolia signed a joint declaration

Chinese President Xi Jinping and President of Mongolia Tsakhiagiin Elbegdorzh signed a joint declaration on Thursday, announcing the rise of bilateral relations to the level of comprehensive strategic partnership relations.

The parties intend to make every effort to increase bilateral trade to 10 billion US dollars in 2020 year.

In 2002, bilateral trade between China and Mongolia amounted to 324 million US dollars, while in 2013 this figure increased to 6 billion dollars, which is more than half of the foreign trade of Mongolia.

China has been and remains the largest trading partner for Mongolia and a source of foreign investment for more than 10 years.

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