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China, Mongolia and Russia sign deal on cross-border rail enterprise
THE China Railway Corporation, Mongolia's road transport and urban development authority and Russia's Ministry of Transport have signed an agreement on cooperation on cross-border railways, clearance and traffic signals, Xinhua reports.
Fei Dongbin, representative from the China side, said that with the agreement, China and Mongolia's cross-border rail freight is expected to increase to 18 trips from the current 12.
The Sino-Mongolian Erenhot-Zamyn Uud railway border checkpoint is handling eight million tonnes of cargo a year. In the future, the two countries will expand cross-border railway transport by building up two new railway checkpoints on the border, which are the Ganqimaodu-Gashuun Sukhait Checkpoint and the Ceke-Shivee Khuren Checkpoint.
By 2020, Mongolian exports to China are estimated to hit 100 million tonnes. China will upgrade the traffic facilities to support the growing business opportunities.
Mongolia is rich in minerals. Iron, copper minerals and coal exports to China, Japan and Korea rely mainly on rail, which is faster, cheaper with has more capacity than trucking.
Sino-Mongolian-Russian international intermodal rail service was first launched in 1956. In 2012, the broad-gauge rail line at Sino-Mongolian border checkpoint Erenhot-Zamyn Uud connecting railway networks of both sides of the border opened for traffic and became the second cross-border railway between China and Mongolia.
As cross-border cargo flow and categories of goods are increasing, China and Mongolia have agreed to hold meetings on compensation for loss and damage in the second quarter of every year and meeting on cargo and passenger service and financial settlements.
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Mexico strives to boost trade ties with Asia, especially China MEXICO, Latin America's biggest exporter is aiming to diversify its trade and reduce dependence on the US, which takes in more than three quarters of the country's exports. Asia has been growing in importance and the Mexican President Enrique Pena Nieto has been working hard to improve relations with China in particular since he took office at the start of December. The Mexican president and China's president met in June and signed a number of agreements to strengthen economic ties, open up China to Mexican pork and tequila, and provide Mexican oil monopoly Pemex with a US$1 billion Chinese credit line. Mexico's economy is facing its toughest year since 2009 and net trade has been a drag on growth, with imports rising faster than exports in 2013. But robust demand in the Orient for Mexican goods has helped to take the edge off. The Mexican ambassador to China, Jorge Guajardo, told Reuters the government was in the midst of "redesigning" ties with Asia and was optimistic the share exports to the region would increase before the President's term comes to an end in December 2018 "From what we have today to what we could have, I think it could be double (the export share)," he said in an interview. Mexican exports have been almost flat so far this year, with the economy now expected to grow by less than two per cent. But exports to Asia jumped 15 per cent in the first half of 2013, accounting for five per cent of the total. In 2000, they made up one per cent of the Mexican total. Exports to China rose more than a quarter in the January-June period to some US$3.3 billion, although that was dwarfed by the volume of Chinese exports reaching Mexico at $28.7 billion. About 90 per cent of Mexico's imports from China are component parts for producers that help to make Latin America's No 2 economy more competitive, Mr Guajardo said. |
