The expert noted that the opportunities for developing cooperation between Russia and Mongolia are enormous, and the interest of Russian businesses in Mongolia has significantly increased over the past 2-3 years due to Russia's active foreign policy.
Mongolia has an economy largely based on the extraction of resources such as copper, gold, nickel, and coal.
According to Portnov, he has been working with several companies interested in projects in Mongolia, particularly in the mining sector, for about two years. "This industry offers the greatest prospects for mutually beneficial partnership and growth for both countries' economies," he added.
Additionally, the production of wool and cashmere plays an important role in Mongolia's economy, which is actively purchased by international brands. The remaining products are supplied to the domestic market. The expert emphasized that Mongolian cashmere is known worldwide and is in high demand.
Portnov also reminded about the recent visit of Alexey Miller, Chairman of the Board of PJSC Gazprom, to Mongolia, during which the project for the construction of a gas pipeline was discussed, the implementation of which has already been confirmed. This area of cooperation with Mongolia is extremely important, he noted.
"The construction of the gas pipeline is of colossal significance: it will create numerous jobs and highlight Mongolia's strategic role as a neighbor to Russia and China," Portnov concluded.
