The German-Mongolian Economic Committee (DMWA) was set up as part of the "Agreement between the German and Mongolian governments regarding cooperation in the raw materials, industrial and technology sectors" between the German Federal Government and the Government of Mongolia. This agreement was signed during a visit by the German Chancellor, Dr. Angela Merkel, to Mongolia on October 13, 2011. The DMWA‘s is tasked with promoting the collaboration between both countries, as well as compiling the German-Mongolian Governmental Working Group's report..
Since 2015, the German Asia-Pacific Business Association (OAV) has set up a contact point for the DMWA in Germany on behalf of the Federal Ministry for Economic Affairs and Climate Action (BMWK). This office has since operated as a point of contact companies and institutions interested and supports the German co-chair in his role. The OAV has commissioned the German-Mongolian Business Association (DMUV) to support the contact office as a local cooperation partner in Ulaanbaatar. Within the framework of this project, webinars, country briefing sessions, and committee meetings are conducted. Additionally, market studies are prepared, and delegation trips to Mongolia are regularly organized as part of the DMWA.
In 2023, Mr. Hans-Christoph Brumberg, Managing Director of wpd Asia Solutions, became the new German co-chair of the DMWA. On the Mongolian side, Mr. S. Narantsogt, CEO of Erdenes Mongol LLC, assumes the co-chair position.