Mongolia, China pledge $10 billion in annual trade

By Ganbat Namjilsangarav

Published August 21, 2014 3:01pm ET

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Mongolia, China pledge $10 billion in annual trade — In this photo released by China's Xinhua news agency, Chinese President Xi Jinping, center left, and his wife Peng Liyuan, center right, pose for a photo with Mongolian Prime Minister Norov Altankhuyag and his wife Khonichin Selenge at Ulan Bator airport, Mongolia, Thursday, Aug. 21, 2014. Landlocked Mongolia is hoping to secure better access to Chinese ports as Xi became the first Chinese head of state in more than a decade to visit this sprawling nation sandwiched between China and Russia. (AP Photo/Xinhua, Ju Peng) NO SALES | Ju Peng

ULAN BATOR, Mongolia (AP) — China and Mongolia pledged Thursday to almost double their annual two-way trade to $10 billion by 2020 as President Xi Jinping became the first Chinese head of state in more than a decade to visit this sprawling resource-rich nation sandwiched between China and Russia.

China also agreed to give the landlocked country access to ports in its north and northeast, the official Xinhua News Agency said. No details were immediately given.

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