Mongolia’s participation in Eurasian economic corridor discussedEconomy
Ulaanbaatar /MONTSAME/ Trade and land transport flow that link Europe and China is creating Eurasian economic corridor. It is bringing new opportunities to countries such as Mongolia, Andrei Mikhnev, the World Bank’s Country Manager for Mongolia emphasized during the opening of international meeting themed ‘Mongolia’s participation in Eurasian economic corridor’ that took place on December 3 at Shangri-La hotel.
“The recent World Bank report on economic condition of ‘Belt and Road’ Initiative reveals that the initiative opens many opportunities to number of countries while exposing risks,” he said.
The international meeting touched Asian highway network that will connect Eurasian economic corridor. “In 2016, an intergovernmental agreement on transit transportation through the Asian highway network was signed between Mongolia, Russia and China in Moscow. This was the first agreement, which was established within the framework of the project on establishment of economic corridor between the three countries. In the framework of the aforementioned agreement, the sides successfully experimented transit transport in route Tianjin-Ulaanbaatar-Ulan-Ude or a route of Asian Highway 3 in August 2016. Currently, Mongolian companies are conducting transport to Tianjin, China,” said S,Batbold, State Secretary of the Ministry of Road and Transport Development.
To ensure preparation of the transport, a joint committee on transport was set up in July 2019 and exchanged permission documents, which are required to conduct transport. As a result of it, legal framework has been created to launch the highway transit transport within the routes of AH-3 and AH-4 between the three countries.
“Maintenance works on Asian Highway 3 has not been completed while 25.8 km road will be built next year within AH-4. By doing so, the construction and maintenance works will be fully completed, fully ensuring conditions for conducting transit transport between the three countries. Transport companies of our country got their permission and started their transportation to Tianjin,” he added.
Asian Highway 3 is in
route from Tianjin, China, through Zamyn-Uud border checkpoint-
Sainshand-Ulaanbaatar-Altanbulag of Mongolia to Ulan-Ude, Russia. Whereas Asian
Highway 4 is a route, which runs from Novosibirsk, Russia via Bulgan and
Tsagaannuur border checkpoints of Mongolia and Urumqi, China to Karachi,