UAE’s DGCX inks MoU with S & Royal Group Mongolia to establish long term ties

By Shilpa Annie Joseph, Desk Reporter
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DGCX
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The leading derivatives exchange in the Middle East, Dubai Gold & Commodities Exchange (DGCX) has signed a strategic Memorandum of Understanding (MoU) with the Mongolia-based investment firm S & Royal Group Mongolia in order to explore long-term business opportunities and exchange information.

Under the terms of the MoU, both organizations will establish a long-term business relationship that will include exchanging expert knowledge, opinions, and ideas on potential business opportunities, as well as exploring the possibility of importing and exporting goods between the UAE and Mongolia.

Further, S & Royal Group will also look into becoming a permanent member of the Dubai Commodities Exchange and the Dubai Multi Commodities Centre (DMCC). The MoU agreement comes after the UAE and Mongolia recently celebrated 25 years of diplomatic relations, and the East Asian country announced plans to open an embassy in Abu Dhabi.

Les Male
Les Male
CEO – DGCX

“Mongolia is a land that is rich in natural resources and potentially lucrative opportunities, and this MoU with S & Royal Group Mongolia – a leading investment of the country – is aligned with our goal of fostering greater cross-border collaboration and enhancing our knowledge base. The potential benefits of this agreement are vast, and we see this MoU as merely the first step in a long and beneficial relationship.”

“We are delighted to partner with the DGCX. Mongolia and the UAE have a rich, historical relationship that dates back a quarter of a century. Our company’s ambition is to become a gateway to the Mongolian market as well as support the country as a major hub for the whole Central Asia region. We look forward to fruitful and mutually beneficial cooperation with the DGCX,” said Mr. Serjbudee Dolgorsuren, President of S & Royal Group Mongolia.

Related: DMCC plans to turn Dubai into international cacao trade hub


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