Russia-Mongolia Trade Surges as Putin Calls for Deeper Strategic Partnership

Dragon Media News Desk

Russian President Vladimir Putin has said the strategic partnership between Russia and Mongolia is founded on longstanding traditions of good-neighborliness, friendship and mutual understanding of each other’s interests.

Speaking at the beginning of a meeting with Mongolian President Ukhnaagiin Khurelsukh on the sidelines of the Shanghai Cooperation Organisation summit in Bishkek, Putin said bilateral economic and political ties were developing positively.

According to Putin, trade between Russia and Mongolia increased by 4.5 percent in 2025. In the first half of 2026, bilateral trade grew by more than 18 percent compared with the same period a year earlier. He also praised the work of the Russian-Mongolian Intergovernmental Commission on Trade and Scientific and Technical Cooperation.

Putin said the provisional trade agreement between the Eurasian Economic Union and Mongolia, which entered into force in July 2026, was expected to provide preferential conditions for traditional Mongolian exports across the customs territory of the Eurasian integration bloc and help expand bilateral commerce.

Russia and Mongolia will mark the 105th anniversary of the establishment of diplomatic relations on November 5. Putin described the anniversary as an important historical milestone in relations between the two countries.

The Russian president also noted that Moscow and Ulaanbaatar maintain similar or closely aligned positions on a number of international and regional issues and cooperate constructively within multilateral organisations and forums.

Putin said Mongolia, which had participated in the Shanghai Cooperation Organisation as an observer, would receive partner status under a decision adopted at the Bishkek summit.

He added that the two countries maintain regular high-level contacts and expressed readiness to continue direct dialogue whenever necessary.