On July 30th it was announced that the foreign minister of  Luxembourg  and  the foreign minister of Mongolia  had agreed  to  negotiate on a  tax   treaty  on the avoidance of double taxation according to the  Luxembourg  Foreign Affairs Ministry.

Luxembourg  Foreign Minister Jean Asselborn met with Mongolia’s Deputy Prime Minister Terbishdagva Dendev and Minister of Foreign Affairs Luvsanvandan Bold for bilateral meetings during an official visit  to Mongolia .

During the meeting, Asselborn called for a new agreement on the avoidance of double taxation between both nations  to  facilitate better access  to  investment services. The Mongolian ministers agreed  to  open  negotiations  once the Mongolian Parliament has adopted a new legal framework for foreign investment.