Washington, DC - Today, senior U.S. and Mongolian representatives reaffirmed their commitment to deepening the economic relationship between the United States and Mongolia by holding the second U.S.-Mongolia Economic Policy Dialogue.
His Excellency Mr. Tsogtbaatar Damdin, Mongolian Minister of Foreign Affairs, led the Mongolian delegation, which included the Ministry of Foreign Affairs’ Department of Foreign Trade and Economic Cooperation, Department of the Americas and the Middle East, Department of International Law and Treaty, and the Embassy in Washington, DC. U.S. State Department Principal Deputy Assistant Secretary Brian McFeeters of the Bureau of Economic and Business Affairs led the meeting for the United States with the participation of other representatives from the Department of State, the Department of Commerce, the Department of the Treasury, the Department of Health and Human Services, the Export-Import Bank of the United States, the Millennium Challenge Corporation (MCC), and the Overseas Private Investment Corporation.
The dialogue allowed both sides to exchange views on a range of critical economic issues impacting both countries. The U.S. and Mongolian delegations noted the substantial discussions regarding the economic aspects of the United States’ Indo-Pacific strategy, Mongolian macroeconomic reforms and investment climate, trade promotion and commercial advocacy, export diversification of Mongolian goods and services, promotion of small and medium-sized enterprises development, investment in the private sector, and issues pertaining to innovation, health, social security benefits, renewable energy and the environment. Both sides discussed plans to develop a roadmap for expanded economic cooperation.
The leaders welcomed the conclusion of formal negotiations between Mongolia and MCC on a second compact, and the leaders look forward to upcoming bilateral Trade and Investment Framework Agreement discussions.