Rustem Khamitov attended a meeting of the State Council RF on development of Russian business

UFA, 19 September 2014. /Bashinform News Agency/. On September 18, in Kremlin the head of Bashkortostan Rustem Khamitov attended a meeting of the State Council of the Russian Federation chaired by the Russian President Vladimir Putin, the press service of the head of the region informs. The meeting focused on the development of Russian business and making it more competitive on the global market in the context of Russia's membership in the World Trade Organization.

Vladimir Putin said about the need for the next one and a half - two years to increase the competitiveness of the real economy. According to him we need to make a "real breakthrough".

“I would like to stress that in the next 18 to 24 months we need to make a real breakthrough in making the Russian real sector more competitive, something that in the past would have taken us years,” Vladimir Putin said.

“The achievement of all these goals depends not only on efforts of the Government, but on the regions of the Russian Federation,” added the President of Russia.

“I am certain that the heads of regions will do everything possible to ensure their precise and efficient implementation,” Vladimir Putin said.

The Head of State defined several priority steps for the development of the real sector of the economy. This is to make loans accessible and to create new competitive environment of business financing meeting international standards.

“We have spoken of it on many occasions - interest rates on loans often exceed the profitability of projects, thus actually pushing economic entities outside the boundaries of economic common sense,” Vladimir Putin marked.

According to Rustem Khamitov, in terms of import substitution Bashkortostan has been making certain steps not for the first year already.

“First of all it concerns the foodstuff,” the head of the republic said. “Our agriculture has an opportunity to show its priorities, to show its direction of development. We actively begin this kind of work. Large dairy farms will be built, construction of the second stage of the factory for turkey production will be continued. New stages of the feed milling plant will be constructed, as well as the pork factory and so on. Projects are very large-scale. Agriculture is the number one candidate to implement import substitution.”

“As for our industrial production, the situation is somewhat more complicated, because it takes time. It takes time for engineering, petrochemical, chemical plants, many of which operate on imported resources".

"A slowdown in production probably will occur in number of companies. It is not the thing we would like to happen. It will not be fatal, supercritical, but such trends are likely to be”.

“I think that the discussion with the President of the country in the format of the State Council regarding matters of import substitution, participation in the World Trade Organization, will give new directions to our activity. Some assignments to the Government of the Russian Federation and to the regions will be made.”