United States And Mongolia Sign Bilateral Trade Transparency Agreement
The United States and Mongolia on Tuesday signed in New York an Agreement on Transparency in Matters Related to International Trade and Investment.
The agreement, signed by US Trade Representative Michael Froman and Mongolian Foreign Minister Luvsanvandan Bold, marks an important step in developing and broadening the economic relationship between the two countries, the United States State Department said in a press release. The U.S.-Mongolia relationship has seen impressive growth over the past two decades.
The goal of the Transparency Agreement is to make it easier for American and Mongolian firms to do business. The agreement covers transparency in the formation of trade-related laws and regulations, the conduct of fair administrative proceedings, and measures to address bribery and corruption. In addition, it provides for commercial laws and regulations to be published in English, making it easier for international investors to operate in Mongolia.
During the signing ceremony, Ambassador Froman and Minister Bold reiterated the importance of U.S.-Mongolia trade and economic relations and their mutual desire to promote trade cooperation through the U.S.-Mongolia Trade and Investment Framework Agreement (TIFA).
The United States has entered into TIFAs with a number of countries in order to enhance trade ties and coordinate regionally and multilaterally through regular senior-level discussions on trade and economic issues.
by RTT Staff Writer
For comments and feedback: editorial@rttnews.com
The agreement, signed by US Trade Representative Michael Froman and Mongolian Foreign Minister Luvsanvandan Bold, marks an important step in developing and broadening the economic relationship between the two countries, the United States State Department said in a press release. The U.S.-Mongolia relationship has seen impressive growth over the past two decades.
The goal of the Transparency Agreement is to make it easier for American and Mongolian firms to do business. The agreement covers transparency in the formation of trade-related laws and regulations, the conduct of fair administrative proceedings, and measures to address bribery and corruption. In addition, it provides for commercial laws and regulations to be published in English, making it easier for international investors to operate in Mongolia.
During the signing ceremony, Ambassador Froman and Minister Bold reiterated the importance of U.S.-Mongolia trade and economic relations and their mutual desire to promote trade cooperation through the U.S.-Mongolia Trade and Investment Framework Agreement (TIFA).
The United States has entered into TIFAs with a number of countries in order to enhance trade ties and coordinate regionally and multilaterally through regular senior-level discussions on trade and economic issues.
by RTT Staff Writer
For comments and feedback: editorial@rttnews.com
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