Bashkiria wants to create new mechanism for trade development with neighboring regions

In Bashkiria, they plan to create a new mechanism for developing trade with neighboring subjects, the Minister of Trade and Services of the Republic of Bashkortostan Alexei Gusev said at the International Business Week 2020 in Ufa.

"As part of the trade development with neighboring regions, we are actively working on a system for the construction of so-called bonded areas," he said. "Bonded areas are bonded warehouses that allow bearing the costs of paying all the necessary duties exactly at the time of the sale of the products in the warehouse. This is a great help for the development of cross-border trade, significantly simplifying and accelerating this process."

At present, Bashkiria ranks 22nd among Russian entities in terms of foreign trade turnover. The analysis carried out in other regions showed that, in fact, external trade turnover is directly related to the number of square meters of warehouse space, and the republic has potential for development.

"Bashkiria is one of the few regions that have three federal highways on their territory at once - M-5, M-7, and R-240," the Trade Minister stressed. "From the point of view of logistics, our geographical position is very advantageous. Besides, there are six million-plus cities within a radius of 500 kilometers, and about 22 million people live. This is a guaranteed sales market that allows us to be attractive for investment, including the development of warehouse infrastructure and increasing turnover."

As the Bashinform News Agency reported, the International Business Week 2020 is being held in Ufa in a hybrid format - online and offline from December 8 to 11.

Numerous events of the IBW-2020 are held with a limited number of participants on the site and a large virtual audience.