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President welcomes reintroduction of Mongolia Third Neighbor Trade Act Legislative Bill in U.S. Congress www.montsame.mn
In connection with the reintroduction of the Mongolia Third Neighbor Trade Act legislative bill in the House of Representatives of the United States Congress, the Office of the President of Mongolia issued the following press release.
“President of Mongolia Khaltmaagiin Battulga expresses full support to the Mongolia Third Neighbor Trade Act legislative bill, which was reintroduced in the U.S. House of Representatives, and expresses his gratitude to Rep. Dina Titus and Rep. Don Young, Co-Chairs of the Congressional Mongolia Caucus.
If passed by the Congress, the Mongolia Third Neighbor Trade Act legislative bill will authorize duty free treatment of Mongolian-made cashmere and textile product export to the United States.
President Battulga wrote a letter to then President Donald Trump in December, 2017, requesting his support for the legislative bill.
Consequently, the Mongolia Third Neighbor Trade Act legislative bill was introduced in the 115th United States Congress in 2018 and reintroduced in the 116th United States Congress in 2019.
The Mongolia Third Neighbor Trade Act legislative bill was one of the key agendas of the President’s official visit to the United States in July 2019. To garner support for the legislative bill, President Battulga personally met with the co-sponsors of the bill as well as other Congress members.
The adoption of the legislative bill will expand bilateral trade turnover and non-mining exports of Mongolia, boost agricultural industries, and ensure the stability of women’s employment and sustainability of household income. A study suggests that over 30 thousand jobs will be created in the cashmere and textiles industries of Mongolia if the bill is passed.
The Mongolia Third Neighbor Trade Act legislative bill has a special importance in strengthening the “third neighbor” policy of Mongolia and the reinforcement of the Strategic Partnership between Mongolia and the United States.”
Source: The Office of the President of Mongolia
Published Date:2021-04-26
