The Chinese Premier Wen’s official visit to Mongolia has ended and Premier took off from Buyant Ukhaa International Airport.
business-mongolia.com has informed few agreements in its previous articles. There are few other deals and agreements were made during the visit.
China opens US$800 million soft loan line for Mongolia
Premier Wen added another US$500 million soft loan in addition to its previous loan of US$300 million. The Mongolian Government sees this loan to be spent for the development of value added processing production in Mongolia.
More precisely, certain agricultural projects can be implemented, such as meat processing and livestock product processing factories. The Government also prefers to develop railway and road network, connecting Mongolia to overseas ports, which is the core interest of the Mongolia Government to secure its export to the world market.
The loan can be used also in developing agricultural projects; meat processing and animal product processing factories, and high quality food manufacturing.
Customs agreement implementation will be more clear and effective.
Parties signed on the Mongolian – Chinese Government Protocol on the Implementation of the Mongolian – Chinese Government Agreement, September 7 1993, on the Cooperation and Mutual Assistance on Customs.
Upon signature of the protocol, favourable legal environment of effective implementation of the Agreement on Customs of 1993. Within the framework of the protocol, parties can exchange information and reports on breach of customs and its laws, customs evaluation, copyright breach.
Locomotives and carriages will be bought with soft loan
Special loan agreement on locomotive purchase of “Improvement of Railway Locomotive”, to be funded by the soft loan of US$300 million, was signed during Premier Wen’s visit to Mongolia. US$300 million.
Also sub project called “Improvement of Zamyn Uud” was signed by parties, as part of funding from the soft loan.
Mongolia will cooperate with Chine on Nuclear Energy Sector
The Nuclear Energy Authority of Mongolia and National Nuclear Corporation of People’ Republic of China signed Memorandum of Understanding on cooperation in the nuclear energy sector and radioactive mineral.
Upon signing MOU, both countries will have common consent on cooperation in the radioactive mineral and nuclear energy sector.