Putin says Russia-Mongolia trade turnover rose by 18.1% in 1st half of 2026

Russian President Vladimir Putin said Wednesday that trade between Russia and Mongolia was growing, citing an 18.1% increase in bilateral turnover in the first half of 2026.

Speaking at a meeting with Mongolian Prime Minister Nyam-Osoryn Uchral on the sidelines of the Eastern Economic Forum in Vladivostok, Putin said the two countries' relations had reached the level of a comprehensive strategic partnership, while their economic and regional ties continued to expand.

"We noted the work of the intergovernmental commission, which deals with all issues of practical cooperation. We noted with satisfaction the growth in trade turnover — last year by 4.5%, and in the first half of this year by another 18.1%," he said.

He also highlighted the provisional trade agreement between the Eurasian Economic Union (EAEU) and Mongolia, in the preparation of which Uchral had taken part while serving as speaker of Mongolia's parliament.

The agreement entered into force in July and is intended to create conditions for increasing supplies of traditional Mongolian exports to the markets of EAEU member states, Putin said.

The Russian president added that more than 70 Russian regions maintain regular relations with Mongolian partners, and cooperation covers economic ties as well as culture, education and youth and sports exchanges.

The Russian president also pointed to the upcoming second Russia-Mongolia Regions Forum, which is scheduled to take place in Ulaanbaatar in mid-September.

Russia plans to send a delegation led by Deputy Prime Minister Alexey Overchuk, he said.

For his part, Uchral said he had personally signed the agreement with the EAEU in Minsk while serving as Mongolia's deputy prime minister and described its implementation as an important part of the countries' economic cooperation.

"This year marks the 105th anniversary of the establishment of diplomatic relations between Mongolia and Russia," Uchral said.

Uchral, who was appointed prime minister four months ago, said his government considered implementation of agreements reached between the two countries a priority.

"Your agreements and decisions must be put into practice, and the government considers this its first task," he said, referring to Putin's talks with Mongolian President Ukhnaagiin Khurelsukh in Bishkek on Tuesday.

The Mongolian prime minister also highlighted the role of the Ulaanbaatar Railway, describing it as a symbol of friendship and cooperation between Mongolia and Russia. He said the two countries should develop joint ventures and projects in other sectors to further expand cooperation.

Putin and Uchral are due to participate in the EEF plenary session in Vladivostok on Thursday.