Press Release: MONGOLIA AND UNITED STATES SIGNED BILATERAL TRANSPARENCY AGREEMENT

Mr. Bold Luvsanvandan, Minister for Foreign Affairs of Mongolia and Ambassador Michael Froman, United States Trade Representative signed the Agreement on Transparency in Matters Related to International Trade and Investment between Mongolia and the United States of America /Transparency Agreement/ on September 24, 2013 in New York City.

The both sides underlined the Transparency Agreement as an important step in enhancing and promoting economic relations between the two countries.
The purpose of the agreement, which applies to measures affecting trade in goods, cross-border trade in services, bilateral investment, trade in financial services and intellectual property rights, is to promote transparency in policy-making, as well as to facilitate exchange of information between the Governments of the two countries.

The long-awaited Transparency Agreement would substantially contribute to strengthening economic relations and expanding bilateral trade and as well as investment flows from the United States to Mongolia. Moreover, the signing of the Transparency Agreement creates a favorable basis for potential steps toward establishing free trade agreement between Mongolia and the United States.

After the signing ceremony, Minister L. Bold exchanged views with Ambassador M. Froman and D. Russel, Assistant Secretary of State for East Asian and Pacific Affairs, on further developing bilateral relations, including trade and economic cooperation and implementing the Transparency Agreement – related measures.

At the signing ceremony, Mr. B. Altangerel, Ambassador of Mongolia to the United States and Mr. B. Chuluunhuu, Director of Department for Americas and Africa of the Ministry of Foreign Affairs of Mongolia were present.