Abstract
Today, the economic globalization is staging and regional trade and economic integration is gaining strength. This trend is more accelerated from the proportion of the COVID-19 pandemic in 2020. In this context, the countries revised their foreign policies and determined their priorities for cooperation.
 In this article, Author analyzes the political and economic environment of Mongolia and the main tendencies of its foreign trade and economic cooperation with other countries, including Asian and neighboring countries.
Highlights
Since the proportion of the COVID-19 pandemic in 2020, Mongolia’s situation of international trade and economic cooperation has changed fundamentally
Concerning the Mongolia, the economy shrank by 10.7% in the first three quarter and total exports fell by 28%
The deficit of state budget of Mongolia has reached a record high of MNT 4.8 trillion, which is equivalent to 12.5% of GDP2
Summary
Since the proportion of the COVID-19 pandemic in 2020, Mongolia’s situation of international trade and economic cooperation has changed fundamentally. Mongolia is one of the few countries, which is not participating widely in regional integration and which is deeply depending from foreign markets and imports. There are favorable political conditions for Mongolia in Asia and with regional countries such as China, Russia, Japan, Korea.
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