Role of interregional partnership in socioeconomic developing of region

General problems of socio-economic development of Russia and Mongolia, due to raw material orientation of their economies: inadequate development of social infrastructure, dependence on price fluctuations in world commodity markets etc., are reviewed in this paper. The recommendations to address these problems by means of international economic integration of these countries at three levels - global, regional and transboundary (interregional) - are given. In particular, participation of Mongolia in the Shanghai Cooperation Organization is discussed. Special attention is paid to the model of interregional partnership as a primary level of cooperation. The mechanism of this economic partnership is based on the principles of joint activities between business and government, federal and regional authorities and economic entities of both countries. Instruments of implementation of these principles are proposed, namely - creation of special institutions and preferential treatment. Finally, a specific example of interregional cooperation between Russia and Mongolia is extensively studied.