Myanmar has invited Mongolia to make investment in various sectors of the country following the enactment of new Foreign Investment Law, state media reported Thursday.

The invitation was extended by Myanmar Minister of National Planning and Economic Development Kan Zaw and President of the Union of Myanmar Federation of Chambers of Commerce and Industry ( UMFCCI) U Win Aung at a Myanmar-Mongolia business forum and business networking held here Wednesday.

Addressing the forum, visiting Mongolian President Tsakhiagiin Elbegdorj disclosed that plans are underway to order chartered flight between the two countries as tourism industry is the main business for Mongolia.

The participants also discussed the current policy, financial situation and

investment environment in Mongolia.

The Mongolian president has been on a state visit here since Monday, and had talks with his Myanmar counterpart U Thein Sein in Nay Pyi Taw on promoting bilateral relations, cooperation in regional and international issues, exchange of high-level official visits, the broadening of people-to-people access and ASEAN- Mongolia relations.

The talks also touched on cooperation in the sectors of tourism and mining.

Moreover, the two leaders exchanged view on Mongolia's democratic transition since 1990.

Following the talks, Myanmar and Mongolia signed an agreement on mutual visa exemption for holders of diplomatic and special passports.

During his visit, Elbegdorj also met opposition leader and parliamentarian Aung San Suu Kyi in the capital and gave speech at the Yangon University on experiences of reform in Mongolia.

Elbegdorj is the first Mongolian leader to have visited Myanmar since the two countries established diplomatic ties in 1956.