The vice chairman of the Mongolian Parliament, Gavaa Batkhuu, said on Wednesday that Mongolia will continue to boost bilateral cooperation with China.

At a meeting with Chinese Ambassador to Mongolia Yu Hongyao, Batkhuu said the ongoing global financial crisis has had an impact on the global economy, and Mongolia and China, as neighbors, should further expand their economic exchanges and investment to cope with the crisis.

Mongolia is amending its law on mineral resources to boost its economy and will protect the interests of foreign investors, he said.

Yu said China-Mongolia relations have developed smoothly in recent years, adding that there is great potential for boosting cooperation in the mining sector as China is a convenient market for Mongolia.

This year marks the 60th anniversary of the establishment of diplomatic relations between China and Mongolia, and the two countries will organize a series of celebrative events.

(Xinhua News Agency January 15, 2009)