Thank you, Jackson for the kind introduction.
I always like to meet with the AmChams when I travel. Everywhere I go, you serve as an invaluable source of knowledge, insight, and guidance, and we appreciate all you to do strengthen our country’s economic ties with your partner countries.
On behalf of the U.S. Department of Commerce, I would like to thank the Chamber for hosting this event for Prime Minister Saikhanbileg.
Prime Minister, we are delighted to welcome you to Washington, D.C. I understand that the main goal of your visit is to promote and strengthen the trade and economic ties between our two countries, and we greatly appreciate that.
The United States, too, wants a growing and robust trade and investment relationship with Mongolia that will promote prosperity and opportunity for people in both of our nations. Your country is at the heart of Asia – one of the world’s most dynamically developing regions.
Early in this administration, President Obama made a deliberate and strategic choice to deepen American engagement in the Asia-Pacific region.
Today, our commitment to the region remains a centerpiece of this Administration’s foreign policy, and our commercial relationships with friends like Mongolia are a critical part of this strategic rebalance.
Having a solid, stable relationship with the United States can help Mongolia achieve its economic growth and prosperity goals, which is in all of our best interests.
To that end, one of the best tools we can offer is the American business community. U.S. companies offer world-class products and services that can support economic growth in Mongolia and here at home.
For example, American mining companies could make great contributions in developing Mongolia’s mining sector, one of your country’s the most important economic sectors.
U.S. firms have the management, technical, and environmental expertise that can ensure that Mongolia’s mineral resources are developed in the most efficient manner. We hope to see more cooperation between Mongolia and American companies in other sectors as well – including construction, energy, and agriculture.
In order for this to happen, however, Mongolia must have a more open and transparent trade and investment climate.
I applaud the steps your country has taken recently to improve your business climate, including the signing and ratification of the Transparency Agreement between the United States and Mongolia. Businesses are attracted to low-risk commercial environments based on rule of law, stability, and transparency – which are critical issues for American companies doing business in Mongolia.
As your business climate becomes more open and transparent, it will become a more attractive destination for foreign businesses and create more favorable conditions for prosperity to take root.
The United States is eager to be your partner. By doing more business together, we can help Mongolia meet its growing development needs while, at the same time, growing American exports. Our commercial relations have faced some challenges recently, with decreased trade and investment during the last two years.
But the re-launch of the U.S.-Mongolia Trade and Investment Framework Agreement Talks last month is a sign that our commercial relations are improving. I hope to see more progress in the near future, because it is critical that we continue this positive momentum.
The United States greatly values our relationship with Mongolia, and we would like to see greater trade between our nations.
Prime Minister, working together with you and your administration, we can strengthen our commercial partnerships and create new jobs and opportunities for the people of Mongolia and the United States. I look forward to seeing our partnership continue to grow and thrive over the coming years. Thank you.