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The country opened a fledgling stock change in 1991. Mongolia joined the World Trade Organization in 1997 and seeks to increase its participation in regional economic and commerce regimes. A catastrophic eruption in June 1997 closed the airport and seaports, inflicting further financial and social dislocation. Recent administrations have expanded competition in seaports, railroads, telecommunications, electricity era, natural gas distribution, and airports. Moldova's dependence on Russian power is underscored by an estimated $4.Three billion debt to Russian pure fuel provider Gazprom due largely to unreimbursed natural gas consumption within the separatist Transnistria region. Previous Russian choices to ban Moldovan wine and agricultural merchandise, coupled with their resolution to double the worth Moldova paid for Russian natural gas and the massive debt continue to hamper economic progress. Future development may be sustained by exploitation of oil, gold, coal, and other mineral sources.


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