Foreign economic relations of Mongolia and the Republic of Buryatia at the present stage

Russian-Mongolian economic and trade relations have a long history. Border areas play an important role in the development of this cooperation. Priority in the development of multilateral relations between Russia and Mongolia belongs to the Republic of Buryatia, which has one of the longest borders with Mongolia, as well as a single national and cultural space on a cross-border territory. The purpose of this study was to analyze the foreign economic relations of the Republic of Buryatia and Mongolia at the present stage, as well as to study the problems and prospects of such relations. Legal acts that are the basis for the implementation of foreign economic relations were studied. Based on statistical data on the dynamics of volumes and the main trends in the commodity structure of export-import operations, starting from 2016 to 2021, we carried out the analysis of the dynamics of foreign trade turnover and the current state of trade and economic cooperation of the Republic of Buryatia and Mongolia. However, in the commodity structure of the region’s exports, the main share is occupied by industrial goods, including electricity, mineral fuel and ferrous metals, wood, paper, etc. The development of foreign trade of the Republic of Buryatia with Mongolia is associated with maintaining a high share of products in exports. The article considers not only the participation of the region in the formation of the volume of Russian-Mongolian trade turnover, but also the status of Mongolia in the republic’s foreign trade relations. Special attention was paid to the existing constraints and obstacles of the Buryat-Mongolian trade and economic cooperation, and their overcoming is analyzed. In addition, alternatives to the construction of hydroelectric power plants in Mongolia were considered. It was concluded that the Republic of Buryatia is the main trade and economic partner of Mongolia, the complementarity of internal resources and capabilities is of great importance for the development of regional and cross-border cooperation between both states.

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