Unimpeded trade and the construction of the China-Mongolia-Russia economic corridor: problems and prospects

Abstract

Relevance. The China-Mongolia-Russia Economic Corridor is the fastest growing of the six economic corridors within the ‘Belt and Road’ initiative. At the core of the Economic Corridor project is the concept of unimpeded trade, which is seen as a way to promote economic prosperity of the countries involved in the project and the cooperation between them. Research objective. Our goal is to conduct a provide an overview of all the key aspects of the unimpeded trade concept in the concept of the ‘Belt and Road’ initiative. Data and methods. The paper uses the method of abstract deduction, qualitative and quantitative analysis to evaluate the performance indicators related to unimpeded trade between China, Mongolia and Russia. It analyzes the conditions necessary for unimpeded trade under the framework of the China-Mongolia-Russia Economic Corridor. Results. It is shown that the three countries need to accelerate the construction of the necessary transportation infrastructure, create the China-Mongolia-Russia free trade zone, facilitate trade by lowering non-tariff trade barriers, and attract additional investment. Conclusions. The article provides an overview of the key aspects of the unimpeded trade concept within the 'Belt and Road' Initiative. The main barriers to efficient trade cooperation between China, Mongolia and Russia are identified and measures for overcoming them are proposed.