Trade and Investment Framework Agreement Review

Mongolian Ministry of Industry and Trade and Mongolian National Chambers of Commerce and Industry officials, together with U.S. Embassy representatives, held an informal mid-year review of Trade and Investment Framework Agreement (TIFA) issues on November 16. 

The discussion was conducted via digital video teleconference with counterparts in Washington D.C. from the offices of the U.S. Trade Representative (USTR), Department of Commerce (DOC), and Department of labor. 

The two sides discussed many issues related to trade and investment that have been discussed in annual TIFA meetings.  Officials exchanged ideas about how Mongolia can make greater use of the tariff-free entry of exports to the U.S. under the Generalized System of Preferences (GSP), including use of a special agreement to promote exports of certain types of handicrafts.  Views were exchanged regarding trade, investment, transparency, and business climate concerns, including proposed foreign investment law changes and mining laws and regulations issues.    Both sides described individual and joint efforts to expand commercial ties and strengthen trade and economic cooperation, including DOC sponsored capacity building programs.  The next round of TIFA discussions are tentatively planned for 2008 in Washington, DC.