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Enhancing economic cooperation between Mongolia and Thailand

About three new agreements have been signed between Thailand and Mongolia on mutual cooperation that will lead to investment in future in various fields including trade and tourism between both countries. In his three days official visit to Mongolia, Prime minister of Thailand, Yingluck Shinawatra, stated that both countries are interested in developing ties, increasing investment and trade in mining, livestock, energy, agriculture as well as in public health.

She also stated that Thailand is looking forward to sign a pact to promote protected investment mechanism to increase trade between both countries. It is also assumed that as the volume of trade between two countries was 13.69 million US dollars, and it can be doubled in coming three years.  

The prime minister has also called for formation of joint committee on trade, aiming to facilitate collaboration in business. She also expressed her determination on supporting investment of private sector in the Lockland, with particular focus on tourism, restaurants, hotel business and camping facilities. About investment and support in technical aspect, the prime minister of Thailand, said that the country can produce light vehicles like pickup trucks as well as machinery used in agriculture for Mongolia.  The leadership of two countries chaired a meeting to sign two MoUs, one for establishing a counseling body for development of mutual cooperation and second for developing ties between Chamber of trade and industry, Mongolia and private organizations from Thailand for increasing trade and investment. 

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