CH.SAIKHANBILEG RECEIVES UNDER SECRETARY FOR INT'L TRADE AT US DEP OF COMMERCE

Ulaanbaatar /MONTSAME/ The head of the Cabinet Office Ch.Saikhanbileg received Mr Francisco Sanchez, the Under-Secretary for International Trade at the U.S. Department of Commerce on April 5. Ch.Saikhanbileg said the USA are one of the most important foreign trade partners of Mongolia, who greatly helped us since a transfer to the market economy, and said he is ready to support an activation of trade and economic cooperation negotiations and that Mongolia can cooperate with the U.S. companies who want to invest in Mongolia, especially with those who are experienced in extracting and utilizing slate. He supports initiatives of the "Pibodi Energy" company on exploiting the Tavan tolgoi deposit, on renewable energy and on coal production, he said, adding that the government is working on creating favorable investment environment for foreign and domestic investors. Then, he spoke about the amendment to the Law on regulation of foreign investment in business entities operating in sectors of strategic importance. In response, Mr Sanchez said he is glad that Mongolia's government is supporting the foreign investments, and noted that he will focus on expanding the cooperation of the two countries. Mr Francisco J. Sanchez serves as Under Secretary for International Trade at the U.S. Department of Commerce, a post he was nominated to by President Barack Obama in 2009. As Under Secretary, Sanchez leads the International Trade Administration, an organization of 2,400 employees with offices throughout the United States and in more than 70 countries. Sanchez leads the efforts to improve the global business environment by helping the U.S. businesses compete abroad. As one of the architects of President Obama's National Export Initiative (NEI), with the ambitious goal of doubling U.S. exports by the end of 2014, Sanchez directs programs and policies that promote and protect the competitiveness of American businesses Ch.Enkhtuya