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This article analyzes the possibilities and constraints of the Russian Far East’s cooperation with Northeast Asian countries. Despite its geographical location and richness in natural resources, the RFE’s efforts to cooperate and integrate further with other Northeast Asian countries have not met with much success. First, foreign investment and other cooperative measures between the RFE and its neighbors have never been satisfactory. Second, economic difficulties in the RFE have aggravated racist and xenophobic attitudes, which in turn have been exploited by local politicians, much to the chagrin of potential foreign investors. Third, the recent financial problems in Japan, South Korea, and other East Asian countries also have had a negative impact on the RFE’s efforts to integrate further. From a long-term perspective, however, if Russia and the RFE abolish irrational business practices and excessive bureaucratic red tape that currently discourage foreign trade and investment, economic conditions in the RFE will improve and its integration with Northeast Asia can be worked out. Furthermore, if the RFE launches international cooperation projects centered on selected areas—such as a triangular type of economic cooperation between Russia and both South and North Korea—their prospects for success will increase.