The United States of America and Mongolia signed an Agreement on Transparency in Matters Related to International Trade and Investment today in New York, New York. The agreement, signed by United States Trade Representative Michael Froman and Mongolian Foreign Minister Luvsanvandan Bold, marks an important step in developing and broadening the economic relationship between Mongolia and the United States. The U.S.-Mongolia relationship has seen impressive growth over the past two decades. This bilateral Transparency Agreement adds to the continuing positive momentum in relations and benefits both countries by creating a more transparent and predictable environment for doing business.
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.
More information is available at the U.S. Trade Representative site.