By Elena Fehrbach
Apr. 15 – Ch. Saikhanbileg, Minister of the Cabinet of Mongolia met Francisco J. Sanchez, the Under Secretary for International Trade of the U.S. Department of Commerce to discuss economic and trade cooperation between 2 countries. During the meeting, the Minister noted that Mongolia is willing to widen the economic relationship between Mongolia and USA. One of the important steps taken by the Ministry recently is introduction of the amended Strategic Foreign Investment Law creating encouraging investment opportunities for private companies.
One of the proposals discussed during the meeting is the proposal to cooperate on development of Tavan Tolgoi coal mine made by privately owned US- based Peabody Energy Corporation. Peabody Energy is one of the major global coal mining companies having 28 coal projects in USA, Australia and Mongolia.
The Minister also focused on Mongolia’s initiative to collaborate with US companies in the field of development of shale oil in Mongolia.