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Chinese President Xi Jinping and his Mongolian counterpart Tsakhiagiin Elbegdorj signed a joint declaration here on Thursday to upgrade bilateral ties to a comprehensive strategic partnership. This will contribute to the shift in the Asian and the wider international structure of relationships. The strengthened bilateral relationship between China and Mongolia means better cooperation in politics, economics and culture.

China and Mongolia are expanding the existing economic and trade cooperation in energy, exports and imports to mineral development, infrastructure construction and finance. Both sides have also decided to amplify the bilateral currency swap, focus on setting up a supranational economic cooperation zone, and join hands to develop the “Silk Road Economic Belt”.

Mongolia is making a wise decision in taking advantage of the rise of China, in an effort to explore its own potential and promote its own prosperity. As a consequence, Mongolia will attend the APEC to be held in Beijing in November, and hopes to join this organization. With its economy improving, Mongolia relies on China’s vast market to sustain its development. China and Mongolia will also carry out cooperation in anti-terrorism, territory and sovereignty.

China and Mongolia share the longest mutual land border for both countries. If the two have a close relationship, there will be no need to worry about border disputes on either side. China can therefore focus its attention on its disputes in the South China Sea and the East China Sea. There is no doubt that Mongolia’s relations with China are significant for China’s economic security and homeland security.

With the world economic center moving to Asia, Mongolia’s location is increasing in importance. It is located between Central Asia and Northeastern Asia, and borders China, Mongolia and Japan. All of these three countries can benefit from building a good relationship with Mongolia. Setting up a comprehensive strategic partnership with Mongolia is naturally of significance to China.

China and Mongolia will set an example of “good neighbors, close allies, and good friends”.

This article was edited and translated from 《中蒙戰(zhàn)略關(guān)系迎來歷史性升級(jí)》, source: The Beijing News