The Contemporary State and Prospects of the Foreign Trade Cooperation Development of the Siberian Federal District

The article analyses the modern specificity of foreign trade in the Siberian Federal District. The research is based on the analysis of the dynamics and commodity structure of export-import operations for the period of 2015-2018. The current foreign economic activity of the Siberian Federal District is developing rapidly, thus influencing the socioeconomic development of the region. The Siberian Federal District is export-oriented. However, the big share of raw materials in the commodity structure reduces the positive effect of export. Further development of the region's foreign trade depends on the intensification of trade, economic, and investment cooperation with the countries of the Asia Pacific Region, with a focus on greater raw material processing and export of value-added products in traditional sectors of the district's industry. Revitalization of cooperation with the countries of the Asia Pacific Region would be a basis for the stable development of Siberia. The development of export-oriented and import-substituting manufacturing will contribute to creation of jobs, adaptation of high-efficiency equipment, development of energy, transport, logistics, cross-border infrastructure, and increases of tax payments to the budgets of all levels.

Keywords

Authors

References