The 351,300 kmē (218,300 sq.m.) area was first colonized in the 1600s by Russians in search of wealth, furs and gold. In 1923, the republic was created through the union of the Buryat-Mongol and Mongol-Buryat Oblasts. The republic's economy is composed of important agricultural and commercial products including wheat, vegetables, potatoes, timber, leather and textiles. Fishing, hunting, fur farming, mining, stock raising and food processing are also important economic generators. The Buryat Republic's capital, Ulan-Ude, rests at the junction of the Uda and Selenga Rivers.