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Bashkortostan at the international arena
Within the Russian Federation Bashkortostan is a Republic that is stable both in political and social respect having a sound economic potential and rich natural resources. The Republic is ready to promote cooperation as an equal practically with all foreign countries. At present 11 million tons of oil are extracted in the Republic, over 80 % of plants protection chemicals, about 60 % of soda ash, 20 % of synthetic rubber made in Russia is produced in the Republic. Bashkortostan has the largest in Europe oil extracting and oil-refining complex capable to produce about three thousand names of products. The Republic is traditionally in top of the Russian regions in terms of major parameters, including the volume of foreign trade.
The Republic started independently developing international and foreign economic relations as a result of changing its political status after having adopted the Declaration of the state sovereignty of the Republic of Bashkortostan on October 11, 1990 that imparted additional dynamism and variety to social and economic development of the Republic. The event made it possible to bring the Republic's international cooperation to a new and higher level.
Up to the 1990-s we were having foreign trade ties only with foreign countries. The Republic's enterprises and companies made export sales via all-union foreign trade firms. Gradually accumulating necessary foreign economic experience the Republic expanded the geography of its foreign trade.
Before 1992 we had 31 countries-partners, and today Bashkortostan has trade and economic ties with about 100 countries of the world. Strong and comprehensive relations with European countries, the USA, China, India, Turkey, Japan, the Arabian countries and others have been developed.
Dynamical development of the international relations of the Republic is promoted by active external economic policy of its management. The conclusion of the Agreement between the government of the Russian Federation and the government of the Republic of Bashkortostan in the field of International and foreign economic relations, as well as signing in August, 1994 of the Agreement between the Russian Federation and the Republic of Bashkortostan "On Delimitation of Subjects under the Authority and Mutual Delegation of Powers between the Bodies of State Authority of the Russian Federation and the Bodies of State Authority of the Republic of Bashkortostan" have become an important stage and have imparted a powerful impulse to the development of international and foreign economic relations.
Foreign trade activities of the Republic today are aimed at developing multilateral cooperation with foreign countries, foreign companies, firms and other organizations for the achievement of the Republic's economy growth on the basis of introduction of advanced foreign technologies and scientific developments, increase of well-being of its multinational population and complete integration of Bashkortostan economy into the world market.
Important agreements have been signed in the field of the development of mutually advantageous cooperation with various departments of the Lands of the Free State of Saxony, of Saxony-Anhalt (Germany), the Czech and Slovak Republics, Turkey, the People's Republic of China, India and a number of other countries of Europe, Asia and Middle East.
Moreover, special mechanisms have been created in the Republic which allow realizing the arrangements achieved. The representatives of the Republic of Bashkortostan participate in the work of intergovernmental commissions on economic cooperation of Russia with Austria, India and Turkey.
The huge potential of unique technologies in the area of avia- and machine-tool building, biology, solid body physics is accumulated in the Republic, which allows making hi-tech and competitive in the world market products.
Bashkortostan is among ten largest subjects of the Russian Federation as for the volume of foreign trade turnover. For the year of 2003 the foreign trade turnover of the Republic of Bashkortostan reached USD 3.0 Billion.
The basis of the Republic's export is formed by the production of fuel-energy, chemical-petrochemical and machine-building complexes. Machines and equipment, petrochemical products and consumer goods prevail in import.
The diversified structure of the economy of Bashkortostan offers a wide range of products for the world market. Today the enterprises of the Republic are highly integrated in the world market, and are expanding their foreign trade relations. Over 500 enterprises and organizations of the Republic carry out foreign trade operations.
Powerful industry, rich resource base, qualified manpower, advanced infrastructure and political and social stability ensures high investment attractiveness for the Republic. This year the Republic of Bashkortostan was given a long-term credit rating "BB-" (Stable) of "Standard and Poor's" International Agency - it's one of the best credit ratings in Russia along with Moscow, St. Petersburgh and Samarskaya oblast (Standard&Poor's official web-site). Leading financial experts recognize the Republic of Bashkortostan as investment attractive and perspective for further cooperation.
Special order of granting guarantees as well as normative acts providing privileges for investors have been developed in the Republic. Foreign investments to the economy of the Republic accumulated by now amount to more than USD 400 Million. The greatest amounts of foreign investments are forwarded to the development and reconstruction of the enterprises of chemical and petrochemical industry, metallurgy and mechanical engineering, light industry and agriculture. The most active countries-investors are Germany, the Great Britain, Italy, Spain, the Netherlands, Belgium, Vietnam, China and a number of others.
Bashkortostan is one of the few regions of Russia, which cooperates with UNIDO. More than 150 investment projects of the Republic are included in information databases of this organization.
Great attention in the Republic is paid lo the establishment of joint ventures and enterprises with participation of foreign capital. Presently over 500 joint ventures and foreign enterprises as well as representations and branches of foreign companies are registered in Bashkortostan.
The joint ventures and foreign enterprises produce petroleum, construction materials, plastic products, home appliances, carpets, fur and sewing products, geophysical devices, sports footwear, food, lender various kinds of services.
The Republic of Bashkortostan intends to keep developing dynamically and improving its international and foreign economic relations in the interests of further economic development and increase of well-being of the multinational population of the Republic. Rich resource and industrial potential of Bashkortostan, active support of the Government, effort of executive authorities in development of international cooperation and attraction of foreign investments, combination of state regulation with market initiative - all this allows our Republic to keep and to strengthen its leading positions in foreign trade of Russia.
For more information about the Republic Bashkortostan and investment opportunities in the region please visit:
Export abilities of Bashkortostan Republic
Ufa - the capital of Bashkortostan
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