CRI听力:China, Mongolia Eye Closer Economic Links

Chinese President Xi Jinping (R) holds talks with his Mongolian counterpart Tsakhiagiin Elbegdorj in Ulan Bator, Mongolia, Aug. 21, 2014. Xi arrived in Ulan Bator Thursday for a two-day state visit to Mongolia. [Photo: Xinhua/Li Tao]

Chine and Mongolia are seeking to build stronger economic links by boosting trade, expanding practical cooperation, and facilitating cargo transportation for landlocked Mongolia.

CRI's Cao Yuwei has more.

Chinese President Xi Jinping is in Ulan Bator for a two-day state visit to Mongolia.

After meeting with his Mongolian counterpart Tsakhiagiin Elbegdorj, they signed a joint declaration to lift their relationship to that of a Comprehensive Strategic Partnership.

According to that document, trade is expected to reach 10 billion U.S. dollars by 2020.

China has been Mongolia's largest trading partner and largest source of foreign investment over the past decade.

Xi Jinping is pledging to further boost trade and cooperation.

"The two countries should expand mining, infrastructure, and financial cooperation, while prioritizing cooperation on connectivity and major projects. Both sides should also launch work to prepare for the negotiation and signing of a bilateral free trade agreement at an early date, and vigorously promote the building of cross-border economic cooperation zones in areas such as Erenhot and Dzamiin-Uud."

President Xi also says the document has solved transportation issues that has been of concern for the landlocked central Asian country.

China will allow Mongolia to use its northern and northeastern seaports which will facilitate goods transportation and exports for the landlocked Central Asian country.

Meanwhile, the two countries vowed to enhance cooperation in rail and air transportation and speed up infrastructure construction at border ports.

Mongolian President Tsakhiagiin Elbegdorj says he appreciates the convenience offered by China.

"Mongolia is a land-locked country. We are very glad to sign the agreements with China on transit transport. It can solve stressing issues such as seaport, railway crossing, traffic capacity, and relevant favorable terms."

In order to maintain communication, President Xi has invited Elbegdorj to attend the meeting of the Asia-Pacific Economic Cooperation due to be held in Beijing in November.

Also during the next five years, China is inviting 100 Mongolian youths every year to visit China while 50 Chinese youths will visit Mongolia annually under a youth exchange program.

For CRI, I'm Cao Yuwei.