The Third Neighbor Trade Bill has been submitted to the 117th US Congress
The Office of the President of Mongolia has issued the following statement in connection with the submission of the Third Neighbor Trade Bill to the US House of Representatives.
“The President of Mongolia, Mr. Battulga Khaltmaa, fully supports the draft Third Neighbor Trade Law submitted to the House of Representatives of the 117th Congress of the United States of America, and thanks Dina Taitus and Don Young, Chairs of the Mongolian Group in Congress.
The Third Neighbor Trade Bill will allow Mongolian-made garments to be exported duty-free to the United States.
The President of Mongolia, Battulga Khaltmaa , wrote a letter to US President Donald Trump in December 2017 asking for support in allowing Mongolian-made garments to be exported to the US market duty-free.
The draft Third Neighbor Trade Act was one of the key topics discussed at all levels during the July 2019 visit of the President of Mongolia, Ms. Khaltmaa Battulga, to the United States. For example, the President of Mongolia, Battulga Khaltmaa, personally met with the initiator of the bill and other members of Congress and called for support for the bill.
The adoption of the draft law will increase trade turnover between the two countries, increase Mongolia’s non-mining exports, accelerate the development of industry in the agricultural sector, and ensure women’s employment and sustainable income. For example, it is estimated that more than 30,000 jobs will be created in the garment and textile sector in the first place.
He added that the draft law is “particularly important for strengthening Mongolia’s” third neighbor “policy and strengthening the Strategic Partnership between Mongolia and the United States.”
Source: President’s Office