Source: China Daily, CRI English

Mongolia and China will cooperate in a number of mining and energy projects this year, said the Minister of Foreign Affairs and Trade during a visit last week. Over the course of his visit, Minister G. Zandanshatar discussed a number of intentions for mutual cooperation work between the two nations.

“In Mongolia there are some large scale mining projects to be commissioned soon, and one of them is Oyu Tolgoi copper and gold mine,” said Minister G. Zandanshatar.

The Aluminum Corporation of China has reportedly tried to obtain interest in the Oyu Tolgoi copper and gold project, but has not succeeded, said a source from the Mongolian embassy in China. China Shenhua Group is a selected stakeholder to jointly develop the Tavan Tolgoi coal mine. Zandanshatar said the firm would “play a very important role,” and added that China and Mongolia agreed to address a number of important issues concerning other energy needs for Mongolia.

China is reportedly ready to provide petroleum products in the short term, and Zandanshatar hopes the two countries set up a joint refinery to meet increasing demand for petroleum products in Mongolia. Over the last decade, China was reportedly Mongolia's largest investment and trading partner. Zandanshatar reported a bilateral trade turnover increase of USD 5.7 billion and that by the end of last year 90 percent of Mongolian exports had landed in China.

Zhou Yongkang, a member of the Standing Committee of the Political Bureau of the Communist Party of China's Central Committee pledged for cooperation as well. He called for the two countries to expand exchanges in education, culture, and ties between the youth of each nation. China and Mongolia have also cooperated in defense, as exchange visits of senior officials have become common. In 2011 the Chinese Defense Ministry assisted in building a rehabilitation center for peace keepers near Ulaanbaatar.

“As a neighbor, we enjoy excellent relations and cooperation with China,” said Zandanshatar. “We will realize the existing potential to expand and intensify this cooperation.” He added that the rise in status of China is “not a threat,” but rather a great opportunity.