The signing ceremony of the Memorandum of Understanding between the Mongolian National Chamber of Commerce and Industry and the Chamber of Commerce of the Kingdom of Thailand was held at the Thai Chamber of Commerce Headquarters in Bangkok on March 11, 2021. The document was signed by H.E.Mr A.Tumur, Ambassador of Mongolia to Thailand, on behalf of the MNCCI and Mr. Kalin Sarasin, Chairman of the Thai Chamber of Commerce and Board of Trade of Thailand. Mr. O.Amartuvshin, President of the Mongolian National Chamber of Commerce and Industry, who attended the ceremony via teleconference, expressed confidence that the document would contribute to the increased trade turnover and mutual investments between the two countries as well as pave the way for joint projects and programs, better connections between businesses.

The attendees noted that the total trade turnover between the two countries decreased from 42.2 million US dollars in 2019 to 34.6 million US dollars in 2020, and stressed the importance of increasing trade turnover and focusing on tourism.                Within the framework of the MoU, the parties agreed to establish cooperation between University of the Thai Chamber of Commerce and the Business Academy under the Mongolian National Chamber of Commerce and Industry in training skilled business personnel and provide scholarships for MNCCI employees and local member companies.