Cooperation in tourism, mining with Mongolia sealed

Among the deals are the Intergovernmental Agreement on Cooperation in Tourism Sector, MOU on cooperation between the capital cities, Ulaanbaatar and Nay Pyi Taw, and MOU on cooperation between the Mongolian National Chamber of Commerce and Industry and the Union of Myanmar Federation of Chambers of Commerce and Industry.
“I am sure that the visit will be a fresh impetus to the relationship between Mongolia and the Republic of Union of Myanmar. I am pleased to say that deals were mutually beneficial and official talks were efficient,” said President Thein Sein.
Both parties stated that they are confident that the visit was essential and will encourage the development of bilateral relations and mutual partnership.
“We agree with the view exchanged during the meetings that Mongolia and Myanmar have potential to cooperate in many sectors, including mining and energy where Mongolia has extensive experience,” Silk Road Capital said in a research note.
“We welcome the fact that Mongolia and Myanmar are working on an agreement on promoting and increasing mutual investments, as Mongolian companies are interested in investing in Myanmar in particular in financial services, hospitality and infrastructure,” the investment firm stated.
Thein Sein’s visit was at the invitation of Mongolian President Tsakhiagiin Elbegdorj. He was the first Myanmar president who visited Mongolia since both countries established diplomatic relations in 1956.
The Mongolian president also announced that both countries have an initiative called M2 Mongolia Myanmar – and would further work to consolidate their efforts to promote this mechanism of cooperation.
The Mongolian president visited Myanmar from November 18 to 21, 2013.
According to state media, Global New Light of Myanmar, Elbegdorj said his country will support democratic and socioeconomic reforms in Myanmar, and shared knowledge on market economy transition.