Trade Of Russia And Mongolia: Trends And Prospects

The main trend of Russian-Mongolian foreign trade cooperation is addressed in the article. There is a conclusion describe on the reviews of the dynamics and product structure of Mongolia’s foreign trade turnover with the main foreign trade partners which demonstrates that Mongolia’s dependence on China in the trade and economic spheres is strengthening. Russia takes the second place after China among Mongolia’s foreign trade partners. The expansion of trade and economic cooperation between countries is the main direction of bilateral relations development. However, the share of Russia in the total foreign trade turnover of Mongolia tends to decrease. In addition, the commodity structure of Russian-Mongolian trade is characterized by a mono structural nature, which makes it vulnerable to external factors. The unbalanced commodity structure of export-import operations indicates insufficient use of the existing potential of Russian-Mongolian cooperation. The author concludes that it is necessary to intensify trade, economic cooperation between the countries, as well as expand non-primary bilateral commodity exchange. A promising area for enhancing bilateral cooperation is the implementation of investment projects in mining and processing industries, tourism, transport modernization, logistics and energy infrastructure.