Bilateral and transit trade set to boom in the wake of rapidly growing Russia-China commerce
Sergei Glaziyev, a member of the integration and macroeconomics panel of the Eurasian Economic Commission, has been speaking about bilateral trade relations between Russia and Mongolia at the “Russia-Mongolia: Partnership in the New Reality” forum, which is being held in Ulan-Ude, near the Mongolian border.
He stated that Russia and Mongolia will draw up a plan for trade, economic and investment cooperation for the period through 2025 within the next few months. “We would like our new plan for cooperation until 2025 to pave the way for new achievements, new opportunities to broaden our trade, economic, cooperative, and investment relations. Our mutual trade is modest today, standing at a mere US$2 billion, but it shows a strong growth tendency.”
Russia-Mongolia trade increased by 30% in 2021, Glaziyev said, adding that there were also…