Courtesy call highlights Singapore-Mongolia business engagement and opportunities for bilateral cooperation.
Ms Nomita Dhar, Editor-in-Chief of IN Diplomacy, called on H.E. Dr Uyanga Ganbold, Ambassador of Mongolia to Singapore, following the Singapore–Mongolia Business Forum & Matching Session 2026, held at Conrad Singapore Orchard. The engagement provided an opportunity to discuss the business forum and developments in Singapore-Mongolia economic cooperation, including trade, investment, sustainability and carbon markets.
Dr Uyanga attended the business forum, where she delivered the Welcome Remarks. The event was organised by the Singapore Business Federation (SBF) and the Mongolian National Chamber of Commerce and Industry (MNCCI), with participation from more than 80 Singaporean and Mongolian companies. It featured presentations by government representatives, business leaders and industry experts, alongside close to 20 curated business-to-business discussions.
A key development at the forum was the signing of a Memorandum of Understanding (MoU) between SBF and MNCCI. The agreement was signed by Mr Mark Lee, Chairman of SBF, and Mr B. Lkhagvajav, President of MNCCI. It established a framework for cooperation in trade and investment promotion, business delegations, capability-building, and the exchange of economic and commercial intelligence.
The signing was witnessed by Mr Foo Cexiang, Minister of State for Manpower and Energy, Trade and Industry, who delivered Singapore’s Opening Remarks as Guest of Honour, and Mr Ts. Sandag-Ochir, Minister of Environment and Climate Change of Mongolia, representing the Mongolian Government. H.E. Mr Wong Kai Jiun, Ambassador of Singapore to the Republic of Korea with concurrent accreditation to Mongolia, also attended the forum.
Discussions at the event highlighted opportunities for Singapore businesses in Mongolia, particularly in sustainability and green solutions, carbon markets, oil trading, technology, financial technology (FinTech), and the hospitality, restaurant and catering (HORECA) sector.
The forum also featured a presentation on the Singapore-Mongolia Implementation Agreement on Carbon Credit Cooperation, delivered by representatives from the Carbon Markets Division of the Ministry of Energy, Trade and Industry (METI) and the Carbon Planning Division of the National Environment Agency (NEA).
Signed on 6 October 2025 under Article 6 of the Paris Agreement, the Implementation Agreement provides a legally binding framework for eligible mitigation activities in Mongolia and the international transfer of correspondingly adjusted carbon credits.
The courtesy call followed an event that underscored the growing scope of Singapore-Mongolia business engagement and the opportunities for companies in both countries to explore trade, investment and sustainability-related partnerships.
Source: IN Diplomacy Reporter
