A signing ceremony of the Memorandum of Understanding that is being established between the General Customs Office (GCO) of Mongolia, Mongolian National Chamber of Commerce and Industry (MNCCI) and the Business Plus Initiative (BPI) Project funded by the USAID took place at the meeting hall of the MNCCI on June 06, 2012. 

The Director of the GCO D.Tseveenjav, the Executive Director of the GCO D.Oyunchimeg, the Director of the MNCCI S.Demberel, the Executive Director of the MNCCI M.Oyunchimeg, the Chief of Party of the BPI project Efrain Laureano, the Deputy Chief of Party of the BPI S.Uurtsaikh and the Resident Representative of USAID to Mongolia Karen Hillard were present at the signing ceremony. 

The memorandum aims at bringing real measurable results in improving operations to facilitate Mongolia’s foreign trade. Following are main objectives cited in the memorandum:

1. To review within the present legal frames, all of the active bills, policies and acts that regulate the foreign trade of Mongolia, to annul those policies and acts that are not necessary in regulating modern flow of foreign trade and that are to be resolved within given duties and right according to the memorandum.

2. Investigate all potential possibilities to broaden probationary activities that are to help to implement the risk management program of the GCO, which complies with its legal rights and general directions of activities, within the shortest possible time in a much possible broader scale.

3. Deliver technical assistance to GCO in fulfilling preparatory actions in conducting a study “to determine the time spent on customs clearance for export and import goods” during the peak load of the foreign trade sector, cooperate with the working group of the GCO to create a potentiality to conduct such studies individually in further. 

4. In order to clear and minimize difficulties facing the foreign traders, to tie and connect the activities of MNCCI directed in facilitating foreign trade with the database of the GCO.

5. Formulate a work plan for the programs and actions that are to be implemented from August, 2012 till May 31, 2013 that shall include measurable indicators and indexes on facilitating Mongolian foreign trade and that shall be an impulse in upgrading Mongolia’s listing in the World Bank’s “Doing Business” 2014 report and to submit the work plan to the World Bank.