The team foresees that growth is expected to remain strong in 2018 but, amid still high public debt, several risks remain including changes in global commodity demand and bottlenecks at the border. The report highlights that all end-December quantitative performance criteria were met, generally by large margins. “Of the 10 structural benchmarks for the review, five were met, three (tax administration legislation and a recapitalization law) will likely be passed in the Spring parliamentary session and two are unlikely to be implemented. In addition, the authorities reversed three fiscal measures considered during previous reviews,” assessed the IMF staff team on the program implementation.

Heenam Choi, Executive Director for Mongolia, remarked “The EFF program, official sector support and a favorable external environment wahave supported a strong economic recovery in Mongolia. The authorities undertook extensive economic reforms that have strengthened macroeconomic fundamentals. As a result, the fiscal deficit and public debt are decreasing at a much faster pace than projected at the time the EFF was approved. Inflation is within the target range; the exchange rate has stabilized and foreign reserves have continued to rise.

The authorities’ commitment to the program objectives, fiscal discipline and prudent monetary policy have played a key role in the economic revival of the country.” He underlined that quantitative targets for the end of 2017 were exceeded by considerable margins. “Most structural benchmarks were either met or, in the case of the revised taxation laws and bank recapitalization law, will be implemented with a short delay. Some policy measures were revised after widespread public objection. The authorities are aware that there is no room for complacency. They are committed to pursuing a tight fiscal policy and prudent monetary policy, together with implementation of reforms under the program to strengthen macroeconomic stability, build buffers and promote inclusive growth,” concluded Mr Heenom Choi.

His speech at the Boao Forum for Asia - often referred to as Asia's Davos - appears to be an attempt to calm a trade row with the US.

He pledged to cut import tariffs on cars and relax requirements for foreign firms investing in China.

But there were few specifics on when the changes would happen.

Mr Xi made no specific references to the ongoing spat with the Washington which has seen both sides announce tit-for-tat plans to slap tariffs on imports.

But in a veiled swipe at US President Donald Trump's America First stance, Mr Xi called for openness.

"In today's world, the trend of peace and cooperation is moving forward and a Cold War mentality and zero-sum game thinking are outdated.

"Paying attention only to one's own community without thinking of others can only lead into a wall. And we can only achieve win-win results by insisting on peaceful development and working together."

President Trump, whose plan to hit hundreds of Chinese products with duties have stoked fears of a trade war, has yet to react.

Washington claims China has failed to fulfil earlier promises to open up the economy - including putting up barriers to international companies accessing markets and forcing investors to form joint ventures and hand over intellectual property.

China's President Xi Jinping likes to position himself as the champion of globalisation. He consistently does that when he's making speeches at international forums.

And what better time to do that than now, against the backdrop of the ongoing US-China trade row.

President Xi says a cold war and zero sum mentality are out of place and that dialogue is the way to resolve disputes.

What he most likely means by that of course - although he never specifically says it - is that US President Trump's recent rhetoric on trade and unfair practices by China aren't in keeping with the way reasonable adults should behave.

In contrast to the bluster and fiery barbs evident in President Trump's tweets, President Xi put forward the face of a new China, and announced steps to make China's economy more open.

Amongst the things he talked about included lowering import tariffs for vehicles, and improving transparency, and intellectual property rights protection.

He also said China genuinely doesn't want a trade surplus.

But while on the surface the promises sound grand, some of this is stuff we've heard before. So it's hard to see just how much more access China will give foreign firms in reality.

But will President Trump see President Xi's conciliatory speech as a sign that he's won some concessions for the US side? Wait for his next tweet!

US officials familiar with the secret, high level planning talks for the bilateral meeting told CNN that Kim would prefer to host it in Pyongyang, but that Ulaanbaatar is being floated as neutral ground.

Former and current presidents of Mongolia also seem open to the plan. Mongolia has hosted meetings between North Korea and Japan in the past and is on friendly terms with most countries, including its neighbors Russia and China, as well as both the US and North Korea.

Take a look around the city that could soon play host to Trump and Kim.

http://www.businessinsider.com/photos-ulaanbaatar-city-coul…

The matter was touched upon during the official talks between Prime Minister U.Khurelsukh and Chinese Premier Li Keqiang on April 9 in Beijing. The sides exchanged views on broadening bilateral cooperation in political, economic, trade and humanitarian spheres and international and regional matters.

While expressing mutual satisfaction with the development of bilateral relations in line with mutual respect of national independence, sovereignty and territorial integrity of the two countries, the Prime Ministers of Mongolia and China expressed their readiness to maintain the frequency of mutual high-level visits and intensify political and parliamentary exchange.

Within the objective to increase bilateral trade turnover to USD 10 billion by 2020, the dignitaries agreed to intensify operations of cooperation mechanisms, correlate development strategies, eradicate non-tariff barriers in bilateral trade, strengthen cooperation in industrial capacity and investment and reinforce the implementation of projects focusing on economic development and household livelihoods. For instance, the sides reached agreement on launching Chinese Government-funded projects in the nearest future, including on the Ulaanbaatar Wastewater Treatment Plant and ger area re-planning .

The sides also emphasized the potentials in bilateral cooperation on sectors such as agriculture, energy, mining and transit transport and backed the activation of relevant dialogue by corresponding bodies. Furthermore, the Prime Ministers expressed their commitment towards the development of trilateral cooperation with Russia and moving forward the priority projects between the three countries. 
Kh.Aminaa

According to the official Xinhua news agency, Li told Mongolian Prime Minister Ukhnaa Khurelsukh in Beijing the two sides should work together more in industry, agriculture and animal husbandry, energy and minerals, transportation, pollution control and infrastructure construction.

Landlocked Mongolia sells the bulk of its exports to China, its southern neighbour, and it has also been trying to make greater use of China's transport network as well as its commodities exchanges in order to gain access to foreign markets.

Mongolia aims to become a "transit corridor" to facilitate trade, as well as oil and gas deliveries, between Russia and China, and has sought funding for transportation projects from the China-backed Asian Infrastructure Investment Bank.

But some nationalist politicians in Mongolia remain suspicious of Beijing's intentions, and have expressed concern that China's growing economic might could further enhance its political dominance in the region.

(Reporting by David Stanway; Editing by Michael Perry)

The Office of the President, Development and Democracy NGO and the Konrad Adenauer Foundation Mongolia co-organized a forum on natural resource governance on April 6 at the Tuushin Hotel.

President Kh.Battulga attended the event and delivered opening remarks, in which he cited Mongolia’s ranking in the 2017 Resource Governance Index report by the Natural Resource Governance Institute, where Mongolia received 54 score in revenue management, 40 in state-owned enterprise and 42 in sovereign wealth funds indicators.

“The experts have highlighted the incompliance with resource management laws and regulations in Mongolia although they are existent in sufficient number. The Constitution of Mongolia states that the land, its subsoil, forests, water, fauna and flora and other natural resources shall be subject to people’s power and State protection. Unfortunately, the people are not benefitting from the natural resources today,” said the President, calling for action to reduce the inequality of resource distribution.

“We must reflect on our mistakes and discuss how we can better enforce the policy, which makes this forum a timely event,” President Kh.Battulga said.

The forum was the main event following five workshops addressing natural resource governance in Mongolia. Members of the Landtag of German state Saarland attended the forum.
Kh.Aminaa

Today, April 9 China’s Premier of the State Council Li Keqiang will offer an official welcoming ceremony in the Great Hall of the People. Following the ceremony, two PMs will hold official talks and sign official documents.

Moreover, Prime Minister U.Khurelsukh will pay courtesy calls on the Chinese President Xi Jinping and Li Zhanshu, executive chairman of the National People's Congress session presidium.

During the talks and meetings, the two sides will discuss a wide-range of issues on deepening Mongolia-China comprehensive strategic partnership meeting, in particular advancing mutually beneficial cooperation in politics, economy, trade and humanity, and exchange views on regional and mutually interested international matters.

In addition, relations and cooperation documents will be signed today between the government and organizations.
The official visit will continue till April 12.

M.Unurzul