1. Short title This Act may be cited as the Mongolia Third Neighbor Trade Act . 2. Findings Congress finds the following: (1) In 1992, Mongolia adopted a constitution establishing a parliamentary democracy, becoming the only country in Asia to transition from communism to democracy. Mongolia shares land borders with only the Russian Federation and the People’s Republic of China. With a large land area and a population of only 3,255,000, Mongolia is the world’s most sparsely populated country, and its economy is highly dependent on its much larger and more populous neighbors. (2) Mongolia’s success as a democracy, strategic location, sovereignty, territorial integrity, and ability to pursue an independent foreign policy are highly relevant to the national security of the United States. (3) Mongolia has shown its commitment to a third neighbor relationship with the United States by sending troops to support United States combat operations in Iraq and Afghanistan, and has a strong record of troop contributions to international peacekeeping missions, including nearly 900 personnel serving in the United Nations mission in South Sudan and other missions. (4) Mongolia describes the United States as its most important third neighbor , but trade between the United States and Mongolia is substantially lower than in many of Mongolia's other bilateral trading relationships, and has declined in recent years. Total trade between the United States and Mongolia in 2012 was valued at approximately $707,000,000, but in 2022 the United States exported only $149,000,000 in goods to Mongolia and imported only $26,000,000 in goods from Mongolia. (5) While the mining industry accounts for more than 80 percent of Mongolia’s exports by value and more than 20 percent of gross domestic product, agriculture, which accounts for 13.25 percent of gross domestic product, is a much larger source of jobs, employing around a quarter of the working population. The livestock sector accounts for more than 80 percent of agricultural production in