U.S., Mongolia sign bilateral trade, investment framework agreement

U.S., Mongolia sign bilateral trade, investment framework agreement    The United States and Mongolia have signed a trade and investment framework agreement.
   The United States has signed these agreements with a number of countries to enhance trade ties and coordinate regional and multilateral trade and economic discussions. These agreements also lay the groundwork for future free-trade agreements.
   Mongolia has a population of 2.7 million. U.S. exports to Mongolia amounted to $20.7 million in 2003. Major exports to Mongolia include machinery, equipment, and aircraft. U.S. imports from Mongolia totaled $183.4 million in 2003. Major imports include textiles and apparel.
   In May, President Bush announced 16 countries that are eligible for Millenium Challenge Account help, including Mongolia. The account is a new mechanism that distributes assistance to developing countries that have demonstrated that they are democratically ruled.