Wu Jiao writes:\u00a0 The top leaders of China, Russia and Mongolia launched a three-party summit at which President Xi Jinping proposed a three-way economic corridor featuring cross-border infrastructure and trade development.\u00a0 Calling their development highly complementary, Xi called for an economic corridor linking Beijing’s proposed Silk Road economic belt, Russia’s Trans-Eurasia railway and Mongolia’s passage to grassland initiative.<\/p>\n
They should also beef up interconnectivity by railway and road, facilitate customs clearance and study the construction of cross-border power grids, Xi said at the meeting on the sidelines of the Shanghai Cooperation Organization summit in Dushanbe, Tajikistan.
\nMongolian President Tsakhiagiin Elbegdorj said the country hopes to boost infrastructure and cross-border transportation through strengthening cooperation with the other two.
\nObservers said the summit highlighted the countries’ eagerness for close ties to fuel their economies and firm up their strength in the region.<\/p>\n
Cooperation will mean more security along China’s northern border and a broader market, which will be a key for China’s Silk Road economic belt plan, said analysts.<\/p>\n
It will be difficult for Mongolia to revive its sluggish economy and improve its international status if it continues sticking to its third neighbor policy, said Chen.\u00a0 Landlocked Mongolia has long upheld a third neighbor policy to strengthen cooperation with Western countries and international bodies.\u00a0 The mineral-rich country is experiencing its weakest growth in four years. Foreign investment plummeted 70 percent in the first half.\u00a0 Hopefully new cooperation will turn these figures around.<\/p>\n
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