Expert spoke about Bashkiria’s participation in international forums advantages

Ufa University of Science and Technology, Doctor of Economics Azat Yangirov, as cited by Elektrogazeta, the republic’s participation in such events has a positive effect not only on Bashkiria's image on the world stage but also on the influx of foreign investment.

“Despite Western sanctions, Bashkiria is successfully developing foreign economic cooperation, manifested in the active growth of foreign trade turnover. As part of foreign trade turnover, exports are growing seriously. The republic exports more products than it imports. This is the first point. The second point is that Bashkiria has successfully reoriented itself from Western partners to neighboring countries, such as Asian countries. We see how rapidly relations with Belarus, Kazakhstan, Uzbekistan, and other countries are developing. The Republic is actively developing ties with Iran and the United Arab Emirates. Activity in the foreign economic sphere brings tangible results: firstly, increasing the recognition of the republic in the international space, and secondly, attracting investors. Using the example of the Republic of Belarus, we see real projects, such as the opening of enterprises in Bashkiria. Regarding the United Arab Emirates, it can be noted that we are close in terms of religious aspects, including great prospects for the development of Islamic banking and Islamic finance. In general, in my opinion, all these relationships are aimed at the positive long-term development of the republic,” said Azat Yangirov.

Author: Roman Yakimchuk