Transbaikal region: Areas for foreign economic cooperation development with the People’s Republic of China

Abstract

The article considers trade relations between the Transbaikal region and the People’s Republic of China, which is traditionally the main foreign trade partner of the region. The author presents statistical data on the changes in volumes and commodity structure of the export-import operations of Transbaikal region over the 2008-2017 period. The article outlines the key negative factors affecting the growth of trade, economic and investment cooperation between the Transbaikal region and the People’s Republic of China, related to the underdevelopment of the the region’s border, transport and energy infrastructure. The author proposes some ways to develop investment cooperation between the provinces of the People’s Republic of China and the Transbaikal region aimed at implementing joint investment projects in mining and forestry industry, agriculture and machine building, as well as reconstruction of checkpoints, upgrading the existing transport and energy infrastructure and creation of a new one.

Building up investment cooperation between the provinces of the People’s Republic of China and the Transbaikal region will have a positive impact on socio-economic development of the region facilitating foreign trade activities, creating new competitive export-oriented industries, developing agriculture, upgrading infrastructure, which, in turn, will promote setting up of related industries and ensure an increase in tax revenues to the budgets at all levels.