AMBASSADOR GALT: Mr. Foreign Minister, Chairman Liotta, Senior Vice President Overby, distinguished guests, it is my distinct pleasure to welcome you to AmCham’s Fourth Annual Trade Mission.
Thank you to the U.S. Chamber of Commerce for hosting us this morning and a warm welcome to the companies who have traveled from Mongolia as part of the AmCham delegation.
I am especially grateful to Foreign Minister Munkh-Orgil for participating in this event.
Your presence is an enormously important contribution toward expanding our bilateral commercial relationship.
I offered to lead this delegation – the largest ever from Mongolia, I understand – because I believe this is an especially opportune time to work together to further the U.S.-Mongolia economic and commercial partnership.
In addition to commemorating 30 years of U.S.-Mongolia diplomatic relations this year, Mongolia’s implementation of the U.S.-Mongolia Transparency Agreement and entry into an IMF program provide a strong foundation for sustainable, private sector-led economic growth in Mongolia that presents new opportunities for U.S. businesses and investors.
Over the next three days, you will be meeting with an impressive line-up of U.S. government agencies, members of Congress, and U.S. companies.
I encourage you to use your time in these meetings to talk about the strong partnership between the United States and Mongolia, about why Mongolia matters as a democracy in a tough neighborhood, and about prospects for expanding our bilateral commercial ties.
In line with the recommendations of the IMF, the World Bank, and the Asian Development Bank, I hope you will also spread the message that commercial opportunities in Mongolia go well beyond the mining sector.
Your U.S. interlocutors and counterparts should hear from all of you about the great potential in sectors such as agriculture, renewable energy, and logistics.
This is also your chance to give the Mongolian private sector’s view of how the U.S. government and private sector can play a more meaningful role in Mongolia.
Many of the organizations you will meet, such as the U.S. Overseas Private Investment Corporation and the U.S. Export-Import Bank, recognize the potential in Mongolia and are interested in doing more.
You can help them identify what more they can do in support of our shared goal of increased U.S. private sector engagement leading to greater economic prosperity for Mongolia.
Thank you very much. Congratulations to AmCham Mongolia for putting together such a robust delegation. I wish everyone a successful trade mission.