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Priorities for foreign economic relations development of the Orenburg oblast

Ermakova Zh.A. Orenburg State University, Orenburg, Russian Federation ( 56ermakova@mail.ru )

Bobrova V.V. Institute of Management of Orenburg State University, Orenburg, Russian Federation ( rsorokina@fa.ru )

Journal: Regional Economics: Theory and Practice, #7, 2018

Subject The article addresses economic, investment, organizational and other relations arising in the course of foreign economic activity of the region, and covers the main issues of integrated cooperation of the member States of the Eurasian Economic Union.
Objectives The paper aims at identifying the areas for foreign economic activity improvement and developing the proposals to minimize major controversies in integration processes.
Methods We employ the method of statistical analysis, using time series and indicators of geography and commodity pattern.
Results The analysis of foreign economic activity of the border region unveils major reasons for its change. We offer areas for improvement, assess the development of mutual trade, trends, balance and commodity pattern at the present stage. We also review the cooperation of the Orenburg oblast with leading partners from the member States of the Eurasian Economic Union, namely, the Republic of Belarus, Armenia, Kirghizia. The choice of priorities for foreign trade development is driven by economic factors like competitiveness, profitability, solvency, etc. and geopolitical factors.
Conclusions Foreign economic relations development of the Orenburg oblast should be focused on the formation of a special-purpose program for boosting the exporters' activity and supporting the enterprises engaged in foreign trade.


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