27 November 2014, Thursday, 13:29

Rustem Khamitov presented Bashkortostan investment potential in Italy


UFA, 27 November 2014. /Bashinform News Agency, Iliya Spiridonov/. Rustem Khamitov is on his official visit to Italy. On November 26, in Milan the President of Bashkortostan held a presentation of economic and investment potential of our republic.

In his speech Rustem Khamitov noted that Bashkortostan was among the ten most industrialized regions of the Russian Federation. The main investment-attractive areas of the regional economy are fuel and energy complex, mechanical engineering and agriculture. Currently about 15 clusters are being formed in the republic in such areas as pharmaceuticals, information technology, nanomaterials, biochemistry and radioelectronics.

Good business climate has developed in the republic, confirmed by high ratings of international rating agencies. Favourable conditions enshrined in local laws are created here for investors.

Rustem Khamitov named «R2R» — «Region to Region» model as an optimal interaction format with Italian regions, which was successfully implemented in cooperation with other countries. The President of Bashkortostan urged to enhance such cooperation and invited Italian businessmen to take part in the Business Councils of the SCO and BRICS Summits, which will be held in Ufa in 2015.

After the presentation Rustem Khamitov held a meeting with Italian businessmen. Creation of joint ventures in engineering, light industry, medicine could become one of priorities of joint work. In particular, at a meeting with CAMOZZI company cooperation prospects in the field of machine tool industry were discussed. A possibility to localize medical equipment production in Bashkortostan was considered at a meeting with representatives of ESAOTE company.

Italy is among five largest foreign trade partners of Bashkortostan. In 2013 the foreign trade turnover amounted to $ 1.2 billion, with more than 90 percent of exports. Among the main products, which our republic delivers to Italy are oil and oil products. The republic imports products of mechanical engineering, chemical and metallurgical industries. As of the end of 2013 the volume of Italian investments accumulated in the economy of Bashkortostan was $ 1.9 million, with 13 joint ventures operating in the republic.