Over 100 representatives of the businesses of Japan and more than 400 representatives of the Mongolian business sector participated in the "Mongolia-Japan Business Forum-2023" co-organized by the Japan International Cooperation Organization (JICA), Mongolian National Chamber of Commerce and Industry (MNCCI), and the Mongolia-Japan Center for Human Resource Development.

At the Forum, the participants made presentations and discussed topics such as support for the development of exports between the two countries, information, communication, digital technology, climate change, and innovation. The Chairman of the MNCCI T. Duuren presented the role of the chamber in supporting Mongolian-Japanese business cooperation. He informed that by the initiative of the MNCCI they are planning to set up a Mongolia-China-Japan Cooperation Council. Establishment of this Council and combined use of Mongolia's resources and opportunities, and Japan's experience, know-how, and high technology will enable to access the Chinese market with new products, and further expand export of domestic products to the Southeast Asian market.

Since commencement of the implementation of the Economic Partnership Agreement, the trade between the two countries has increased every year. If in 2018 it sharply increased compared to 2016: the export increased by 88.6 percent, the import increased by 69.7 percent, and the total trade turnover increased by USD 242.87 million and reached USD 580 million, then in 2022, the total turnover of foreign trade has reached USD 689.4 million.

During the Forum, the parties signed the record documents of the Technical Cooperation Agreement "Project to Support the Development of New Zuunmod City and Free Economic Zone".