Foreign economic relations of Russia with Mongolia in the light of the concept of sustainable development

Abstract

The article analyzes the peculiarities of Russia's foreign economic relations with Mongolia. Foreign economic relations between Russia and Mongolia are evaluated from the point of view of compliance with the provisions of the concept of sustainable development. The dynamics of Russia's foreign trade with Mongolia is traced, its place among Russian foreign trade partners is revealed. The commodity structure of mutual trade is analyzed, its raw material nature and significant impact on environmental pollution are noted. The regional geography of the Russian-Mongolian commodity exchange is considered. High concentration of Russia's foreign trade with Mongolia in certain territories is revealed. Prospects for the development of Russia's foreign economic relations with Mongolia are connected with the change of the Russian foreign economic policy, the increase in the export of products of some industries and the realization of joint investment projects that comply with ESG principles. It is concluded that Russia will not be able to take the place of China as the main foreign trade counterpart of Mongolia in the near future. The results of the study confirm the thesis that an effective foreign economic policy is necessary for the countries' foreign economic relations to become a factor contributing to the sustainable development of mankind.