However, take a look at Figure 39 on page 41 of the Tools Manual for Open AT v3.03
This shows you how to use the ‘External Com’ feature of the Wavecom Terminal Emulator (in association with the Target Monitoring Tool) so that you connect the M1306B to one COM port on your PC, your application serial data flow will be “piped through” to another COM port on your PC, and you can also access all the debug on the PC! 8)
If your PC has insufficient serial ports, this all works perfectly fine with USB-to-Serial adaptors.
Note added:
If you do this, set the speed between the PC and the M1306B as fast as possible (115200), as this link has to carry all the debug stuff plus your application data!
You can set the other serial port to any speed you like…