Geoeconomic Potential of Siberia and Russian Far East for the Russian Federation

In this article, within the framework of regional development the potential of the Siberia and Russian Far East region and its geoeconomic importance for the Russian Federation is examined. Structure of socio-ecomoic development in the region and its political relations with Russian political center is analyzed in detail with a geoeconomic perspective. Because the region has been isolated many decades and seen as a periphery for the highly centralized Russian state system, economic development has been always a big problem. Incompetent and old infrastructures are the main obstacles for region to accomplish economic growth. Due to this reason, there are a lot of developmental problems to be addressed in the region. To solve these kinds of economic problems, Moscow established a specific Ministry that is responsible solely for the regional development in Siberia and Russian Far East. A specific part is dedicated to the energy dimension of the issue. Big oil and gas potential has been utilized to feed emerging Chinese market. Energy projects are the main catalyzer of increasing Sino-Russian relations. Lastly, whether Russian Federation will be able to succeed a new geopolitical orientation towards the East in a time when the World political-economic balance of power shifts to the Asia-Pacific is discussed.

Keywords

Russia, China, Siberia, Regional development, Geoeconomy