Foreign trade turnover of Bashkiria increased by more than 15 percent over 10 months in 2022

The foreign trade turnover of Bashkiria for 10 months of the current year increased by 15.4% compared to the same period last year. At the same time, exports grew by 19% and imports by 1.4%. These data were announced during a press conference on the results of the republic's foreign economic activity for 2022, the press service of the government of Bashkiria reports.

There is an increase in exports with the CIS countries and neighboring countries. The republic began interacting with them before the announcement of large-scale anti-Russian sanctions. The Top 5 countries in trade with the Republic of Bashkortostan include Belarus. Today, promising projects are being implemented on the republic’s territory in cooperation with Belarusian enterprises. These are a plant under construction for the production of machines and equipment for post-harvest grain processing by the Belarusian Company Amkodor, a new dealer center of the Minsk Automobile Plant (MAZ) in the Ufimsky district, a service center of MAZ OJSC in Ufa.

The Center for Export Support of the Republic of Bashkortostan plays a significant role in supporting small and medium-sized businesses for their entry into foreign markets, which in 2021 ranked second in Russia based on the results of its activities. Following the results of 11 months of 2022, with the assistance of the center, 111 SMEs signed 198 export contracts worth $70.74 million, which is 51.5% more than in the same period last year. 65 companies of the republic took part in 14 major international exhibitions, where 14 contracts were signed for a total amount of more than $1.2 million.

Bashkiria will continue to implement measures to support exporters in 2023. Financial support has been provided since 2019, the number of measures is growing every year, regulations are being developed, and this practice is becoming an example for other regions.

A subsidy for logistics was introduced in the republic in 2019. Subsidies for certification and an “Export Cashback” were developed, which stimulated the entrepreneur to expand the geography of deliveries and enter new markets. Now we need to adapt our products to the Arab and Asian markets. Therefore, the republic plans to provide a subsidy for R&D and homologation starting next year. Based on the results of feedback from entrepreneurs of Bashkortostan, a subsidy has been developed to pay for the storage of goods in transport hubs and warehouses. In addition, it is planned to issue subsidies to reimburse enterprises of the region for part of the costs in connection with the purchase of imported raw materials, spare parts, and equipment; as well as subsidies for the reimbursement of part of the costs of the services of consulting companies related to the search for raw materials, spare parts, and equipment necessary for the implementation of the investment project and production activities.

In addition, it is planned to postpone the dates of the International Business Week to a warmer season so that the guests of the event can fully enjoy the beauty of the picturesque nature of Bashkiria.

Author: Roman Yakimchuk