The trade turnover between Tatarstan and Britain in 2017 rose 55%

© RIA Novosti / Alexei Sharecompat in fotobanka. Archival photoThe trade turnover between Tatarstan and Britain in 2017 rose 55%© RIA Novosti / Alexei Sharecompat the image Bank

The trade turnover between Tatarstan and the UK by the end of 2017 increased by 55% and amounted to $ 340 million for the first nine months of 2018, the volume of bilateral trade has already exceeded $ 800 million, the press service of the head of the Russian region.

President of Tatarstan Rustam Minnikhanov on Monday in London, where, in particular, meets with representatives of business circles and takes part in the IV Russian-British business forum. The forum is the key Russian business event in London, aimed at the development of business dialogue and support trade and investment projects, and takes place with the participation of Minister of economic development of the Russian Federation Maxim Oreshkin, co-chair of the SKOLKOVO Foundation of Russia Arkady Dvorkovich and others.

«In his speech, Rustam Minnikhanov noted that the UK is one of leading foreign economic partners of Tatarstan. By the end of 2017 the turnover grew by 55%, amounting to $ 340 million. This year dynamics continued: for 9 months the volume of bilateral trade exceeded $ 800 million», — stated in the message.

According to Minnikhanov, Tatarstan exports to Britain oil and petroleum products, plastics, rubber, products from rubber and other products, and purchases various equipment, technologies, range of industrial products. Republican enterprises and banks, according to him, have direct contacts with English partners, participate in exhibitions held in the UK, used in the production of advanced British technology. For example, Tatarstan’s Tatneft company was the first in Russia, was released to the London stock exchange, more than 25 years, the country has one of the largest it companies — ICL, created in cooperation with British partners. In addition, developing humanitarian contacts: Tatarstan universities cooperate with British universities.

«Tatarstan is one of the leading and industrially developed regions of Russia. We have developed oil refining and petrochemicals, are produced by cars, planes, helicopters, ships, engineering products. Half their manufactured goods we exported. And experience in the agricultural sector: the Republic completely provides itself with agricultural products», — quotes words of the President of Tatarstan’s press service.

Special attention, according to Rustam Minnikhanov, is paid to development of investment climate. The volume of accumulated investment from Britain is about $ 1 billion. The head of the Republic noted the possibility of cooperation in such areas as energy and petrochemicals, automotive and manufacturing of automotive components, aviation, it industry, agriculture, engineering, medicine and others. «We are interested in attracting British business and capital in Tatarstan, will be happy to expand mutually beneficial cooperation and is ready to assist your company,» he said.

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