First meeting of Mongolia-Thailand Joint Trade Committee held

Politics
e.erdenejargal@montsame.gov.mn
2022-09-06 15:51:00

Ulaanbaatar /MONTSAME/. Deputy Prime Minister and Minister of Commerce of the Kingdom of Thailand Jurin Laksanawisit is paying an official visit to Mongolia on September 5-7 at the invitation of Minister of Foreign Affairs of Mongolia B.Battsetseg.


Within the framework of the visit, Minister of Foreign Affairs of Mongolia B.Battsetseg and Deputy Prime Minister and Minister of Trade of the Kingdom of Thailand Jurin Laksanawisit signed the ‘Memorandum of Understanding on the Establishment of a Joint Committee on Trade between the Ministry of Foreign Affairs of Mongolia and the Ministry of Commerce of the Kingdom of Thailand’, and organized the first meeting of the committee.



During the meeting, there was a broad exchange of views on the future objectives and activities of bilateral cooperation, and a discussion was held on expanding relations in the fields of economy, agriculture, tourism, technical cooperation, and logistics.


The trade turnover between the two countries has been increasing in recent years and the sides held talks on intensifying the establishment of the ‘'Agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion’' and ‘'Agreement on the Mutual Promotion and Protection of Investments’' with a view to further accelerating the cooperation in trade.


A goal of increasing the bilateral trade turnover to USD 100 million and escalating the accumulated or increased investment to USD 1.5 billion by 2027 is set out in the ‘5-year plan for cooperation between Mongolia and Thailand in 2022-2027’. In this context, they exchanged views on the development of mutually beneficial trade and economic cooperation based on the potential of good political relations.


The two sides reiterated their commitment to continue working closely together to further deepen their cooperation within the scope of the United Nations and other international organizations.