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Russian-Chinese-Mongolian cooperation has huge potential — Putin

July 09, 2015, 18:30 UTC+3 UFA

The Russian leader mentioned an agreement on cooperation in developing cross-border check points and a memorandum on providing a favorable trade regime

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Russian President Vladimir Putin

Russian President Vladimir Putin

© Alexei Druzhinin/Russian presidential press service/TASS

UFA, July 9. /TASS/. Cooperation between Russia, China and Mongolia has huge potential, Russian President Vladimir Putin said after a meeting with Chinese and Mongolian leaders Xi Jinping and Tsakhiagiin Elbegdorj on Thursday.

"Last year, we opened actually a new page in Dushanbe in the relations between our states and launched a mechanism of three-party meetings at the highest level on the initiative of the Mongolian president," Putin said.

Russia, China and Mongolia are close neighbors united by rich historical traditions, friendly and good neighborly relations of their peoples, Putin said.

"We were aware of the huge potential embedded in the Russian-Chinese-Mongolian interaction and therefore instructed the ministries concerned to start approving specific areas of our cooperation," Putin said, adding some results could already be summed up now.

Over the past period, three rounds of consultations at the level of deputy foreign ministers were held and the first meeting of transport heads from the three countries took place in May in Ufa, the Russian president said.

The Russian side proposed sealing the comprehensive nature of trilateral interaction with a special roadmap, Putin said.

"A corresponding draft was prepared for our meeting. The sides defined priority spheres of their interaction, such as politics, security, the economy, cross-border and interregional ties, the humanitarian sphere and international affairs," the Russian leader said.

A memorandum on creating an economic corridor on the initiative of Chinese leader Xi Jinping put forward back in Dushanbe was signed on the sidelines of the trilateral meeting, Putin said.

The Russian leader also mentioned an agreement on cooperation in developing cross-border check points and a memorandum on providing a favorable trade regime.

"Experts are also working on other promising projects," the Russian leader said.

"For example, this involves the construction of a transit electric power transmission line from Russia to China across Mongolia and the establishment of a trilateral transport and logistics company," Putin added.

Corresponding companies are working on creating a transport corridor based on the Ulan Bator railway. The three countries are also intensifying cooperation in the tourist sphere and the creation of a cross-border tourist cluster, the Russian president said.

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