(MENAFN) China and Mongolia are planning to almost double their trade to reach USD10 billion by 2020, Xinhua reported.
China is considered to be the biggest investor in Mongolia, which is located between major powers Russia and China and has a population of 2.8 million.
The bilateral trade has been gradually growing in recent years, soaring to USD6 billion in 2013 from USD324 million in 2002, making for more than half of Mongolia's total foreign trade.
Mongolia is known to be rich in natural resources. Despite its small size compared to its major neighbors, the country's land is full of resources, mainly cooper and coal.
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