Mongolia Third Neighbor Trade Act reintroduced to U.S Congress

Densmaa 2021-04-26 02:04

Politics

Mongolia Third Neighbor Trade Act reintroduced to U.S Congress

 Congresswoman Dina Titus and Congressman Don Young, Co-Chairs of the Congressional Mongolia Caucus, reintroduced the “Mongolia Third Neighbor Trade Act”, which they co-sponsored, to the United States House of Representatives on April 22, 2021.

The bill aims for a duty-free entry of textile articles and products, made of fibers containing cashmere, and therefore, would support the Mongolian economy by creating jobs, diversifying export, and contribute to expanding trade and economic cooperation between Mongolia and the United States.

The bill had previously been introduced to Congress in 2018 and 2019 and has been receiving bipartisan support from the Members. In the 116^th Congress, over 100 Members of both Chambers co-signed the bill.

The United States Congress has been steadily supporting Mongolia’s democracy and development, and Mongolia-U.S. partnership, as reflected in the adoption of the numerous resolutions. The House of Representatives and the Senate passed the resolution on “Reaffirming the Strategic Partnership between the United States and Mongolia” in December 2020 and on April 15, 2021, respectively.