10 June 2013, Monday, 17:18

Rustem Khamitov has met with members of Association of Equipment Manufacturers of the USA

author: Rozaliya Valeeva

On Monday, June 10, the President of Bashkortostan Rustem Khamitov has met with members of the Association of Equipment Manufacturers (AoEM) of the USA. Variants of further cooperation were discussed at the meeting. Now trade and economic relations of Bashkortostan and the United States of America develop in petrochemical branch, and also in the field of mechanical engineering. Following the results of 2012 the foreign trade turnover between our republic and the USA has made 197,7 million dollars.

“At present 16 enterprises with participation of the American capital operate in Bashkortostan. It is not much. I consider that we have a considerable potential for essential growth of goods turnover,” the President RB marked. “We have begun such work — this year the delegation of the Government of Bashkortostan  visited the United States of America — issues of industry, agriculture, power sector were discussed there. Consultations with business community on American investment projects implementation, road building and development of real estate market were conducted. It is very important for us to increase investment activity in our republic — future tax base, creation of new jobs depend on it,” the head of the republic underlined.

Annually the volume of investments into the Bashkir economy increases by 5-8 percent. Last year inflow of foreign investments reached 600 million dollars having increased twice compared to 2011.

Now in Bashkortostan one hundred investment projects work with total cost of about 12,5 billion of dollars — basically these are companies from Western Europe. Alstom Company builds a new factory on manufacture of hydropower equipment; a wood processing factory with volume of investments of 500 million dollars is also under construction in the republican territory.

“We create special preferences for investors — it is accepted about twenty new laws and statutory acts which form comfortable conditions for business,” Rustem Khamitov said. “For example, large players coming to our region with projects over 150 million dollars are exempted from property tax for 10 years. For the same period the profit tax rate will make 13,5 percent. Such conditions are not available in other regions of the Russian Federation.”

“Approach to business really impresses in Bashkortostan. The republic has great potential: there are resources and people ready to work,” Norman Noblet, Russia and the CIS Area Manager of Altec Company marked. “We are in search for industrial platforms. Our company specialises in manufacture of equipment for electric grids service, for construction of underground communications.”

The Association of Equipment Manufacturers of the USA unites 890 manufacturers of various kinds of equipment. The Association Headquarters is based in Milwaukee, Wisconsin. It has representation offices in Washington, Ottawa, Beijing.