Development of russian-mongolian foreign trade relations in food industry

Abstract

In the context of shifting trade emphasis to the East, Russia attaches great importance to the development of cooperation with the Asia-Pacific countries, where Mongolia is a key partner. The purpose of the article is to reveal global trade trends and identify key areas for the development of Russian-Mongolian foreign trade relations in the food industry. Having conducted a comprehensive analysis of the economic and political factors shaping bilateral trade, the article provides insights into the challenges and opportunities for expanding cooperation in the food sector. Global trend in the food market is that China a leader. China accounts for the largest share (35%) in Russia turnover also. Mongolian trade ties with Russia are becoming closer year by year. This was demonstrated by the official visit of Russian President Vladimir Putin to Mongolia in September 2024. We can observe that Mongolia closely cooperates with such a region of Russia as Buryatia. Through a detailed examination of trade patterns, regulatory frameworks, and market trends, the study uncovers areas of untapped potential and identifies barriers to optimal trade flow. Drawing on industry best practices and case studies from other global food trade partnerships, the paper offers a series of practical recommendations for stakeholders. These recommendations cover infrastructure development, promotion of cultural exchange, harmonization of legal and regulatory frameworks, absorption and use of technology to create a more robust and sustainable trade ecosystem.