Assessment of relations between the Russian-Mongolian border areas: challenges and opportunities

Abstract

Purpose: to recognize the specific features of economic, social and political relations between the Russian and Mongolian border areas in terms of the global economy system. To establish the guidelines for the development of the economic intercourse between the border areas. Discussion: the article contains data about the turnover between the border areas of Russia and Mongolia. The Project of the development of Russia-Mongolia-China Economic Corridor was signed within the framework of the enhancing both, economic and political cooperation. Nowadays, Mongolia is one of the most important partners of the Russian Federation, particularly of the Russian Republics of Buryatia and Tyva, regarding foreign economic activities. The economy of Baikal border areas is mainly undeveloped and subsidized, it is characterized by low financial capacity of local budgets; low activity of small and medium businesses; inefficient use of natural, touristic and recreational resources of the territories; inefficient use of near-border position and low level of international economic integration. Results: the main instruments for the implementation of cross-border cooperation between border areas of Russia and Mongolia are the updating of legal regulatory basis, which govern the Russian-Mongolian relations; fee relief for certain product categories; development of free economic zones in the border areas of two countries.