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U.S. and Mongolia Commit to Expand Bilateral Commercial Relations and Strengthen Cooperation on Aviation Safety

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FOR IMMEDIATE RELEASE
Thursday, June 16, 2011
CONTACT OFFICE OF PUBLIC AFFAIRS
202-482-4883

Locke applauds historic Boeing aircraft deal

U.S. Secretary of Commerce Gary Locke and Mongolia’s President Tsakhiagiin Elbegdorj today announced agreements to expand cooperation on trade and economic issues, and support Mongolia’s aviation sector with technical assistance and training programs at a Blair House ceremony.

“Our trade relationship with Mongolia has deepened during the past several years,” Locke said. “We are pleased that U.S. exports to Mongolia have been increasing, and we look forward to continuing to work with President Elbegdorj and his government to strengthen our commercial ties.”

The Boeing Company also finalized a purchase agreement with MIAT Mongolian Airlines for one 767-300ER and two 737-800 aircraft valued at $245 million from The Boeing Company. This is the first direct purchase of Boeing aircraft by MIAT, and marks the first time in more than two decades that MIAT will extend its route network by purchasing Boeing airplanes instead of leasing them.

Locke and representatives from the United States Trade and Development Agency (USTDA) and the U.S. Department of Transportation’s Federal Aviation Administration (FAA) each signed agreements with Mongolian government and private sector officials promoting cooperation between the two nations.

Locke and Mongolia’s Minister of Foreign Affairs and Trade Gombojav Zandanshatar signed a Memorandum of Understanding on Trade and Economic Cooperation. Commerce and MFAT agreed that strengthening cooperation, exchanges, and technical assistance; sharing experiences in implementing a strong commercial legal regime; and promoting trade and investment are key to further development of the bilateral trade and economic relationship. U.S. exports to Mongolia increased by 184 percent in 2010, totaling $115 million.

“We believe that we could be doing even more business together that would benefit the people of both America and Mongolia,” Locke said. “Continuing to expand our commercial relationship will help us achieve the overall goal of President Obama’s National Export Initiative while helping Mongolia meet its growing development needs.”

USTDA and MIAT Mongolian Airlines also signed an MOU that provides funding for an Airline Executive Management Training program, which will help MIAT expand its business and be more successful by adopting better business management, strategic planning and professional development measures. 

The FAA and the Civil Aviation Authority of Mongolia signed a Memorandum of Agreement (MOA) in order to develop civil aeronautics and enhance aviation safety through technical assistance and training. Under the MOA, the FAA may provide technical and managerial expertise to assist Mongolia in developing, modernizing, operating and maintaining its civil aviation infrastructure, standards, procedures, policies, training, and equipment.

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