U.S. and Mongolia Seek to Strengthen Economic Relationship www.strtrade.com
The U.S. and Mongolia declared on the occasion of the official visit of Mongolian Prime Minister Khurelsukh to Washington that their bilateral relationship has reached a new level of expanded comprehensive partnership. The two sides issued a roadmap for an expanded bilateral economic partnership that covers issues of mutual interest in the areas of global trade, regional economic cooperation, bilateral trade and investment, dialogues and mechanisms, natural resources, agriculture, water, mining, financial services, infrastructure, development cooperation, and supporting private businesses.
On trade, the U.S. and Mongolia expressed their commitment to implement their obligations under the WTO Agreement on Trade Facilitation and will seek to identify sources of capacity building and technical assistance available by donors. They also re-affirmed their intent to deepen U.S.-Mongolia commercial relations through the full implementation of their obligations under a bilateral transparency agreement.
Additionally, new opportunities will be explored to increase mutually beneficial bilateral trade that is free, fair, and reciprocal, and to promote the introduction of new sectors and areas of bilateral trade, including by leveraging the Ex-Im Bank and the Overseas Private Investment Corporation for infrastructure development.