ECONOMIC TIES

ECONOMIC TIES, the system of economic relations arising from labour differentiation, production specialization and co‑operation, proper distribution of productive forces. They develop at the level of micro‑ (between economic entities), meso‑ (between regions and territorial entities of the RF), and macro‑ (the level of national economy) economics. In 2017, the Republic maintained E.t. with more than 120 countries of the world. More than 70% of foreign trade turnover was due to E.t. with Latvia, China, the Netherlands, Belarus, Kazakhstan, Germany, India, Finland, Turkey and Ukraine. In the export of the RB, mineral products (usually fuel and energy) account for about 60%, machine‑building products – for more than 18%. In the import of the RB, machine‑building products account for approx. 55%, the products of chemical industry – approx. 19%, metals and metal products – more than 13%. In order to support the exporters, especially in terms of non‑raw exports, the Center for Coordination of Support to Export‑Oriented Small and Medium Businesses of the RB was established in the Republic. In terms of interregional cooperation, the RB maintains trade and economic relations with more than 80 regions of the RF, including the following key partners: Chelyabinsk, Moscow, Orenburg Oblasts, and the RT.