China, Mongolia and Russia jointly announced their commitment to further developing their already friendly ties, while seeking to build mutually beneficial economic and trade relations in line with the strategic direction of the diplomatic policies linking the three countries. In addition, the outline of a development plan for establishing the China-Mongolia-Russia Economic Corridor has been drafted on the basis of a memorandum of understanding signed by the three parties in Ufa, Russia. The objective of this draft is to reinforce trilateral co-operation through increasing trade volumes, enhancing product competitiveness and facilitating cross-border transportation between the three countries. The key points of the planning outline include (1) promoting the development of transportation infrastructure and connectivity; (2) stepping up port construction and the supervision of customs, inspection and quarantine; (3) bolstering co-operation in production capacity and investment; and (4) deepening economic and trade co-operation.

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