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2025/07/19
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PRESS RELEASE ON THE THIRD NEIGHBOR TRADE ACT LEGISLATIVE BILL

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2018/07/30 10:26:35
PRESS RELEASE ON THE THIRD NEIGHBOR TRADE ACT LEGISLATIVE BILL

July 30, 2018

President Battulga Khaltmaa expresses full support and gratitude to the sponsors of the bipartisan H.R.6636, the Mongolia Third Neighbor Trade Act, which was introduced for consideration in the U.S. House of Representatives. Rep. Ted Yoho (R-FL-3), Rep. Dina Titus (D-NV-1), Rep. Don Young (R-AK-At Large), Rep. Mark Meadows (R-NC-11), Rep. Brian K. Fitzpatrick (R-PA-8), Rep. Elise M. Stefanik (R-NY-21), Rep. Jared Polis (D-CO-2), Rep. David E. Price (D-NC-4), Rep. William R. Keating (D-MA-9), and Rep. Dwight Evans D-PA-2) represent a broad political spectrum of support for Mongolia. Hopefully, the House and Senate will vote and approve this legislation.

Mongolia has consistently adhered to the principles of equality and mutual respect of interests in its foreign policy. This legislative bill is an important milestone to further strengthen Mongolia-U.S. alliance and demonstrates our bilateral cooperation that strengthens the economic security and democracy of Mongolia.

Last year, Mongolia celebrated 30 years of diplomatic relations with the United States. Our land is bordered by Russia and China, yet Mongolia refers to the United States as its “third neighbor.”

Total Mongolia-U.S. trade in 2012 measured a record $707 million, but in 2017 Mongolia exported only $9.4 million, while importing just $82.2 million in goods from the United States. There is much room for growth for both U.S. imports and Mongolian exports.

Mongolia has supported the U.S. efforts in Iraq and Afghanistan since 2003. This underlines our deep commitment to democracy, rule of law, human rights, and a robust free market economy.

Cashmere, fine wool obtained from cashmere goats, industry is essential to Mongolia’s economy. Over a third of the population of Mongolia works in the animal husbandry sector, and cashmere provides income and employment for the majority of these people. Agricultural products are Mongolia’s second largest export after the mining sector, and cashmere products constitute the biggest share in the agricultural exports.

In 2017, only 1,100 tons out of total of 9,400 tons raw cashmere, which is almost 50% of world cashmere, is processed within the country while the rest of 8,300 tons is exported mainly to China in raw form without adding value. The United States buys nearly all of its cashmere products from China. Duty free treatment of Mongolian cashmere and other textile garments exports to the United States would facilitate increased trade with the U.S. and reduced Mongolian export dependence on one country and single sector of mining. This would allow Mongolia to diversify its trade and ensure its sustainable economic growth.

The development of Mongolia’s garment industry would also promote women’s employment and empowerment. Women have historically participated in Mongolia’s garment industry at high rates, and the garment industry has historically provided safe and stable employment for women in Mongolia.

FEATURED

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  • 2025/07/17 11:10:18President of Mongolia will pay a State Visit to the Kyrgyz Republic
  • 2025/07/13 12:36:49President of Mongolia and the Emperor of Japan Attend Soyolon Race at Khui Doloon Khudag
  • 2025/07/09 6:27:20Their Majesties the Emperor and Empress of Japan Visit General Education School in Ulaanbaatar
  • 2025/07/09 3:26:24His Majesty the Emperor of Japan Visits Mongol Koosen Technology College
  • 2025/07/08 10:21:56Their Majesties the Emperor and Empress of Japan Visit Memorial Complex for Japanese Nationals
  • 2025/07/08 10:17:01President of Mongolia and First Lady Hold Official Meeting with Their Majesties the Emperor and Empress of Japan
  • 2025/07/08 10:09:13Their Majesties the Emperor and Empress of Japan Officially Welcomed
  • 2025/07/07 4:46:58His Majesty the Emperor of Japan Introduced to Gachuurt Water Source Project
  • 2025/07/07 4:28:01His Majesty Emperor Naruhito of Japan Visits Chinggis Khaan National Museum

GALLERY

thumbnail Tajikistan2
Tajikistan2
2025/07/17 11:11:45President of Mongolia will pay a State Visit to the Republic of Tajikistan
thumbnail Kyrgyz
Kyrgyz
2025/07/17 11:10:18President of Mongolia will pay a State Visit to the Kyrgyz Republic
thumbnail 687241052527f
687241052527f
2025/07/13 12:36:49President of Mongolia and the Emperor of Japan Attend Soyolon Race at Khui Doloon Khudag
thumbnail 515872835_755323223698206_7412016362952339814_n
515872835_755323223698206_7412016362952339814_n
2025/07/09 6:27:20Their Majesties the Emperor and Empress of Japan Visit General Education School in Ulaanbaatar
thumbnail 686e1491770f3
686e1491770f3
2025/07/09 3:26:24His Majesty the Emperor of Japan Visits Mongol Koosen Technology College
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