Rustam Minnikhanov: There has been a sustained growth in mutual trade between Tatarstan and Portugal

On September 20, at his meeting with Portugal’s Minister of Economy Manuel Caldeira Cabral at the Presidential Residence in the Kazan Kremlin, President of the republic Rustam Minnikhanov said that there has been a sustained growth in mutual trade between Tatarstan and Portugal, which in the first half of the year increased 1.5 times compared to the same period last year.

Welcoming the guests in Tatarstan, Minnikhanov expressed his gratitude to the Minister for the hospitality extended to members of the Tatarstan delegation during their visit to Lisbon this May. "We held a number of fruitful official and business meetings, took part in the Portugal-Tatarstan business forum, signed a number of agreements, visited the scientific and technological park, and got acquainted with very interesting Portuguese experience in a number of areas," Tatarstan President said.

He noted that these days the capital of the republic is hosting an important event - the meeting of the Mixed Commission on Economic, Industrial and Technical Cooperation between the Russian Federation and the Portuguese Republic.

According to Tatarstan President, in the current political climate, Tatarstan is ready to contribute to the strengthening of Russian-Portuguese cooperation at the regional level.

"Our republic focuses on expanding business ties with Portuguese partners. We deliver fuel, rubber, wood products to you, while Portugal supply us with cars and various equipment. We are interested in expanding the range and volumes of trade with your country, as well as in implementing joint projects," Minnikhanov said.

"Russia is rapidly recovering from the economic crisis. The economic growth exceeds two per cent today, which opens up new opportunities for strengthening our interaction," the Minister said.

Cabral continued that about 500 Portuguese companies are doing business with Russia. The total trade turnover exceeds 500 million euros, he added. "There are a lot of opportunities for cooperation with Tatarstan. We look forward to expanding cooperation in the technological sphere, in the field of software development, tourism, education and science," the Minister said.

Manuel Caldeira Cabral noted that Tatarstan is one of the most advanced Russian regions, which is demonstrating the dynamic development of the economy and industry. "I am sure we will be able to find new business partners here," he concluded.