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The Republic of Bashkortostan
10 June 2005
The Republic of Bashkortostan

Flag of Republic of BashkortostanTotal Area: 143,600 sq. km.
Capital: Ufa (established 1574)

Population: 4 million

Geographic location: Located in the Southern Urals and Pre-Urals region.

 

 

Economic Profile:

The Republic of Bashkortostan is a major industrial center within Russian Federation and is one of the top ten leading economic regions of Russia. The main resource of the Republic is petroleum, which largely determines its economic direction.

 

  • Natural resources. Beside petroleum other resources include iron ore, cooper, gold, zinc, aluminum, chromium, brown coal, natural gas, cooking salt, manganese, gypsum, limestone and other over 3,000 other materials.
  • Production. Two diversified industry complexes dominate: mechanical engineering and oil and gas production.  These technologically interconnected industries include oil refining, petrochemical, chemical and microbiological industries.  Bashkortostan is the largest oil refining region in Russian, carrying out about 20% of national oil refining.  It is the second largest oil-refining complex in Europe.
  • Science & Technology. The Republic has a large potential in the area of world class and unique technologies in the fields of biology, solid-state physics, aircraft machinery and machine tool construction.
  • Agriculture. It also is a major agricultural region producing 3.7% of agricultural products of Russia. The leading branch of agriculture is farming.

 

The great economic and natural resource potential of the Republic of Bashkortostan has led it to aggressively develop its foreign economic relations.  Bashkortostan is one of the largest industrial and export-oriented regions of the Russian Federation and has foreign trade ties with more than 90 countries in the world. Annual foreign trade turnover of the Republic of Bashkortostan is about 2 billion US dollars, with exports reaching over 1.5 billion US dollars.  Products of the fuel and power, chemical, petrochemical and machine-building complexes form the export base of the Republic.

Bashkortostan is characterized as a region with a favorable investment climate and a place where free economic zones have been established.  The enterprises with considerable foreign investments are given the most favored national treatment - from preferential taxation to simplified registration procedures, monitoring and protection from criminal influence.

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