The exchanges will work together to develop areas of cooperation and business opportunities with the goal of assisting and benefiting the underlying producers, end-users and investors in their traded products by maximising the application of international best practices for price risk management and exchange operations.

"MCX is one of the most successful commodity exchanges in the world. We hope to learn a lot from MCX's experience as well as to explore and develop business opportunities between the two countries for our mutual benefit," said Afet president Napaporn Kurupasutachai.

Jignesh Shah, managing director and CEO of MCX, said that through this association the two organisations could learn from each other's experience, especially with regard to the agriculture commodities in their countries, which will go a long way in making markets more robust and accessible.

The Nation