MONGOLIA AND CHINA SIGN THREE MOU TO STRENGTHEN BUSINESS COOPERATION

Three memoranda of understanding (MoU) aimed at elevating Mongolia–China cooperation in business, energy, and finance were signed during a joint Mongolia–China investors’ event, marking a new phase in bilateral economic collaboration.

First, the Mongolian National Chamber of Commerce and Industry (MNCCI) and the China General Chamber of Commerce in Mongolia renewed MoU to expand cooperation between business enterprises. The agreement focuses on information exchange, organizing effective joint events such as exhibitions, business forums, and corporate social responsibility initiatives.

Second, PetroChina Daqing Tamsag LLC and Petro Matad LLC signed an MoU to develop practical partnership in the energy sector. The agreement covers cooperation in crude oil production, storage, transportation, exploration, and extraction, with the aim of fostering a mutually beneficial and sustainable partnership in Mongolia’s petroleum industry.

Third, the China General Chamber of Commerce in Mongolia and Golomt Bank signed an MoU to deepen financial cooperation. The partnership will expand financial services, business financing, cross-border payments, and renminbi-related services, creating a more favorable financial environment for Chinese-invested companies and joint projects operating in Mongolia.

Overall, the signing of the three MoU highlights the strong potential for Mongolia and China to further deepen open, pragmatic, and mutually beneficial cooperation across trade, energy, and financial sectors.