Abstract
In this article we attempt to introduce the current circumstances for the Chinese investment, a basis for mutual trust and coherent cooperation as well as mutual understanding between the two countries in the new period of the Belt and Road Initiatives. In addition, we aimed to investigate thoroughly the above-mentioned circumstances of mutual trust and trustful understanding among citizens, servants and policy makers as called upon to emphasize the human potential and human capital. The article considers the impact of the present structure of the two countries (China-Mongolia) and its level of coherence, efficiency of mutual economy and the value of its conditions. We would like to emphasize that behind any economic policy there must always be agreements, commitments and real cooperation. We believe that foreign relations and cooperation between the two countries are not only measured by investments, but also by the national values, norms, practices, traditions, views and motives of the host country. Therefore, we emphasize that mutual cooperation and investment cannot exist without due account of those mentioned circumstances. In other words, we keynoted the distancing in the relations between individuals, organizations, communities and the government, which are the main influencing forces today. Our proposal is to draw the attention to the lack of communication mechanisms from the two sides. Our attempt is to sum up China’s investment into Mongolia, including the current investment trends and future perspectives which are to be realized within the framework of the project, «The Belt & Road Initiative».
Highlights
Mongolia is a landlocked country located between the Russian Federation and the People’s Republic of China and the country’s foreign policy has always been defined to certain extent by this unique geographical circumstance
Due to the Chinese rigorous population growth, the process of migration and settlement of the Chinese residents to Mongolia has been a major concern for the Mongolian government and ordinary citizens; this study cannot afford to miss the point that the realistic situation of Chinese migration contradicts with the statement enshrined in the Concept of Mongolian Foreign Policy, which articulates that ‘maintaining friendly relations with Russia and China shall be priority directions of the Mongolia’s foreign policy agenda
According to the monthly statistics released by the Mineral Resources and Petroleum Authority and Implementing Agency of the Mongolian Government, it is informed that mineral license holders own 1714 out of 2,651 licenses granted for 6.2 million hectares of land in Mongolia. (Mineral Resource and Petroleum Authority of Mongolia, 2020) Table 1 shows the distribution in detail
Summary
Mongolia is a landlocked country located between the Russian Federation and the People’s Republic of China and the country’s foreign policy has always been defined to certain extent by this unique geographical circumstance. Cooperation between the two countries has evolved mutually beneficial in the political, economic and social spheres, especially in the areas of trade and investment. There are more than 100 active trade and investment agreements between the two countries, and bilateral relations are at an all-time high. The Treaty of Amity between the two countries, which was ratified in 1994 in Ulaanbaatar, was an important step in intensifying the relations between the two sides, and the relationship between the two nations was defined in 2003 as a friendly, neighborly cooperation based upon mutual trust. The Joint working group on trade, economic, scientific and technical cooperation of the governments of Mongolia and the People’s Republic of China has been cooperating since 1991 holding regular meetings to ensure trade and economic cooperation
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