Letters of exchange of the project has been signed by Minister of Finance Ch.Khurelbaatar and Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to Mongolia Chai Wenrui, on behalf of their respective countries.

Minister Ch.Khurelbaatar emphasized that the project is a timely aid for the procurement of the necessary equipment for the inspection at the country's border crossings and stressed the importance of the significant contribution of the project to detect and halt potential illegal activities at the borders and customs. He also noted that it is a project of high economic and social significance to develop trade and economic relations between the two countries and accelerate the foreign trade turnover of our country.

Moreover, the Minister said that the procurement of inspection equipment will improve border and customs operations and create favorable conditions for the development of foreign trade, emphasizing that this is a major step forward in China's "Belt and Road" initiative.

Present at the signing ceremony were State Secretary of the Ministry of Finance S.Narantsogt, Director of the Mongolian Customs General Administration B.Asralt, Minister Counsellor of the Embassy of the People's Republic of China Yang Qingdong, Commercial and Economic Counsellor Sun Xuejun and other corresponding officials.