Many Mongolians living in the northern part of the country, such as in the Khentii and Selenge provinces are ethnic Buryats. Close links are shared with the many thousand Russian Buryats, living primarily in the Republic of Buryaria and also in the Irkutsk and Zabaikalskii territories. Trade and cultural links continue to develop. A major stimulus has been visa-free travel.

This week has seen the ‘Buryat Investment Forum’ take place in Ulaanbaatar. The aim has been to help facilitate trade on both sides of the border. Many Mongolian nationals who have businesses in the Republic of Buryatia participated in the forum.

A range of cooperation issues were discussed, among them was a proposal from the Russian Buryat side to give USD 300 million to Mongolia and to exempt Mongolian products from import taxes – the condition would be for Mongolian businesses to invested in the Republic of Buryatia.

The balance of trade between Mongolia and Russia currently stands at  USD 1.2 billion; USD 36 million is directly with the Republic of Buryatia.

The Russian Republic of Buryatia is interested in importing meat and meat products, leather goods, cashmere and eco products as well as to cooperating on joint tourism sector projects.