Mongolia's Prime Minister Tsakhia Elbegdorj held talks in Ulan Bator Tuesday with visiting Vice Premier Wu Yi on bilateral relations.

Elbegdorj said Mongolia values its ties with China and is willing to make concerted efforts with China to boost them.

He noted that China is Mongolia's largest trading partner and a major source of foreign investment and hoped that trade and economic cooperation between the two countries will continue to expand.

For her part, Wu said the purpose of her visit was to deepen mutual understanding and strengthen cooperation of mutual benefit, adding that further improving economic ties is in the interest of both countries.

Earlier in the day, Wu met with Mongolian Deputy Prime Minister Chultemiin Ulaan.

During their talks, Wu and Ulaan spoke highly of progress made in recent years in bilateral economic cooperation and pledged to back cooperation between companies of the two countries.

The two governments also signed 18 agreements on economic cooperation, technology, tourism and quality supervision.

Wu arrived in Ulan Bator earlier Tuesday for a three-day official visit.

(Xinhua News Agency May 25, 2005)