The AAFA has expressed its support for the Mongolia Third Neighbor Trade Act after it was introduced to both US legislative chambers, the House and the Senate. The proposed bill would provide duty-free access to the US market for products made in Mongolia, using the one of the nation’s most renowned exports: cashmere.

“Mongolian cashmere is a brand in and of itself,” stated Rick Helfenbein, president and CEO of the AAFA. “This bill would provide a market for Mongolia’s authentic cashmere, supporting growth and creating jobs throughout the U.S. cashmere value chain.

“At the same time, by passing the Mongolia Third Neighbor Trade Act, Congress would forge a stronger partnership with our friends in Mongolia and provide American consumers with better access to these high-end products.”

Regarding America’s future trading relationship with India, the AAFA has, along with 24 other trade associations, sent an open letter to the US Trade Representative to share their collective concern over the plan to terminate India's GSP status, urging the extension of talks to reach a mutually agreeable solution.

The coalition of industry organisations states that the anticipated move by the US to end the agreement appears to "disregard the way in which this programme helps lift hundreds of millions of people out of extreme poverty," before adding that "Congress prioritised this development imperative, as the original intent of GSP was to 'further...the economic development of developing countries through the expansion of their exports' and years later in its renewal remained 'to assist their economic development and diversification through preferential market access'.”

Co-signed by senators John Cornyn and Mark Warner, an additional letter appeals for a delay to the decision due in no small part to the fact that India is currently in the midst of a general election – a factor which they suggest would be a hindrance to meaningful time and resources being allocated to negotiate trading arrangement.

Bangladesh had its GSP status rescinded after the fateful Rana Plaza collapse of 2013, and has since remained unable to regain its previous arrangement – despite several concerted attempts.

Web: aafaglobal.org