The Government of Mongolia and the Government of the Republic of Singapore (each hereinafter referred to as a "Contracting Party");

Desiring to create favorable conditions for greater economic co-operation between them and in particular for investments by nationals and companies of one State in the territory of the other State based on the principles of equality and mutual benefit;

Recognizing that the encouragement and reciprocal protection of such investments will be conducive to stimulating business initiative and increasing prosperity in both States;

Have agreed as follows: