Rustem Khamitov working visit to Italy came to an end

Iliya Spiridonov

UFA, 28 November 2014. /Bashinform News Agency,Iliya Spiridonov/. The working visit of the President of Bashkortostan Rustem Khamitov to Italy was drawn to a close on November 27. For two days, the head of the republic held talks with heads and representatives of more than 20 companies engaged in engineering, light industry and medicine.

During the meetings, Rustem Khamitov focused their attention on the fact that our republic was not interested in just buying finished products, but in localizing production facilities in Bashkortostan, creation of joint ventures and new jobs.

Business circles of Italy highly estimated the investment potential of Bashkortostan and expressed their willingness to cooperate. Top executives of a number of companies are already considering a possibility to visit our republic for further negotiations.

Recall that yesterday a presentation of Bashkortostan was held in Milan. In his speech Rustem Khamitov noted that Bashkortostan was among the ten most industrialized regions of the Russian Federation. The main investment-attractive areas of the regional economy are fuel and energy complex, mechanical engineering and agriculture. Currently about 15 clusters are being formed in the republic in such areas as pharmaceuticals, information technology, nanomaterials, biochemistry and radioelectronics.

Good business climate has developed in the republic, confirmed by high ratings of international rating agencies. Rustem Khamitov named «R2R» — «Region to Region» model as an optimal interaction format with Italian regions, which was successfully implemented in cooperation with other countries. The President of Bashkortostan urged to enhance such cooperation and invited Italian businessmen to take part in the Business Councils of the SCO and BRICS Summits, which will be held in Ufa in 2015.

Italy is among the largest foreign trade partners of Bashkortostan. It takes the fourth place in the foreign trade turnover which in 2013 amounted to $ 1.2 billion, with more than 90 percent of exports. Among the main products, which our republic delivers to Italy are oil and oil products. Bashkortostan imports products of mechanical engineering, chemical and metallurgical industries. As of the end of 2013 the volume of Italian investments accumulated in the economy of Bashkortostan was $ 1.9 million, with 13 joint ventures operating in the republic.

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