Regional Economics: Theory and Practice
 

Priorities for foreign economic relations development of the Orenburg oblast

Vol. 16, Iss. 7, JULY 2018

Received: 27 April 2018

Received in revised form: 4 June 2018

Accepted: 18 June 2018

Available online: 17 July 2018

Subject Heading: REGION IN NATIONAL ECONOMY

JEL Classification: O19, R13, R58

Pages: 1250–1266

https://doi.org/10.24891/re.16.7.1250

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

https://orcid.org/0000-0003-4761-6200

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

https://orcid.org/0000-0003-3558-5662

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.

Keywords: foreign economic activity, border region, Eurasian Economic Union

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