WEN ENDS VISIT AFTER PLEDGING USD500 MILLION

Chinese Premier Wen Jiabao left Ulaanbaatar at 11 on Wednesday morning after spending a program-packed 30 hours here. He held wide ranging talks with Mongolian Prime Minister S. Batbold, called on President Ts. Elbegdorj, and met with other national leaders.
The highlights of the visit were the signing of several agreements and Mr. Wen’s announcement of a fresh USD500 million soft loan, in addition to the one for USD300 million pledged earlier. The present loan will likely be used to set up some processing plants, mainly in the agriculture sector. 
The road in front of the Chinese Embassy will be called Beijing Street. It will be repaired and rebuilt with money China pledged in April, 2008. Mongolia will buy new locomotives with some of the USD300 million earlier promised. The Nuclear Energy Agency of Mongolia and the National Nuclear Corporation of China will explore areas of cooperation in the uranium sector.
During their one-to-one talks Mr. Batbold asked China to reduce transit transport fees to facilitate use of Chinese ports by Mongolian goods. The Chinese premier suggested that the two sides launch a feasibility study at an early date on a China-Mongolia free trade area (FTA). Expressing support for an FTA, Mr. Batbold said Chinese enterprises are welcome to expand investments in Mongolia and participate in the country's infrastructure construction and the development of mineral and energy resources.
Speaking at the opening of the Sino-Mongolian Economic and Trade Cooperation Forum, the Chinese premier said, "We are sincerely willing to be Mongolia's good neighbor, good friend and good partner forever." Among the specific proposals he made on further boosting bilateral economic and trade cooperation were a program to boost investment cooperation in mineral resources development and infrastructure construction, and China’s support to its enterprises to import more farm and animal husbandry products from Mongolia and encourage them to invest in projects that create more jobs and improve the livelihood of local residents.                                                                                                                                                                                                                
Source: Ardiin Erkh, Xinhua
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