On 29 September 2014, the Department of East Asian Affairs, Ministry of Foreign Affairs of Thailand organized a Roundtable Discussion on Mongolia’s Economic Outlook and the Future of Thai-Mongolian Economic Relations. This Roundtable Discussion is a part of the series of activities to commemorate the 40^th anniversary of the establishment of diplomatic relations between Thailand and Mongolia. The Roundtable Discussion was chaired by Mr. Damrong Kraikruan, Director-General of the Department of East Asian Affairs and H.E. Mr. Chimeddorj Battumur, Ambassador of Mongolia to Thailand while Dr. Chuluundorj Khashchuluun, a well-respected economist in Mongolia from the Department of Economics, National University of Mongolia and Mr. Voravudhi Linananda, Chief Operating Officer of Banpu Public Company Limited were invited as speakers. There were approximately 50 representatives from both public and private sectors participating in the said discussion.

                   In his opening remarks, the Director-General of East Asian Affairs noted with satisfaction on the overall progress of Thai-Mongolian relations and expressed confidence in the economic potential of Mongolia. The Royal Thai Government will further encourage the Thai private sector to invest more in Mongolia, especially in mining, food processing, logistics and the service sector such as healthcare, financial services and tourism.

              Ambassador Chimeddorj is pleased with the present relations between Thailand and Mongolia and views Thailand as the heart of ASEAN and gateway to other countries in the region. This relation is further strengthened by high-level exchange of visits such as the 2 visits of HRH Princess Maha Chakri Sirindhorn to Mongolia and exchange of visits at the level of Prime Ministers, as well as expanded areas of cooperation. The Government of Mongolia appreciates the Royal Thai Government for its technical assistance, including research collaboration on the development of a new type of fabric from the combination of cashmere and Thai silk.

Dr. Khashchuluun highlighted key economic policies and potential investment areas in Mongolia, particularly in mining (copper, coal, iron ore and gold) and agriculture. Mongolia aims at attracting more foreign investment in large infrastructure projects with the passage of the new investment law. He advised Thai investors to partner with Mongolian companies to invest in Mongolia and focus their investment in key priority areas. Mongolia can be a potential market for Thai products in consumer goods and pick-up trucks.

                   Mr. Voravudhi shared the experiences of Banpu’s investment in Mongolia.  He suggested that the Mongolian government provide clearer information on investment-related legislations to attract more investment into the country.