Interview: Russian republic expects upcoming BRICS, SCO summits to further boost regional development

The upcoming BRICS (Brazil, Russia, India, China, South Africa) summit and Shanghai Cooperation Organization (SCO) summit in the Russian city of Ufa will achieve fruitful results and further expand regional economic development, a senior official has said.

Russia holds the rotating chairs of the Seventh BRICS summit and the 15th meeting of the SCO Council of Heads of State, which are slated for July 8 to July 10 in Ufa, capital of Russia's Bashkortostan Republic.

The BRICS and SCO, both aiming to solve existing problems in "fair and noble" ways, have become "productive" regional platforms of international influence, said Rustem Khamitov, head of the Bashkortostan Republic, in a recent interview with Xinhua.

With an eye on promoting overall economic development, mutual political support as well as cultural connection, the two blocs have helped member states to establish contacts at all levels from top leaders to regional governments and businessess, Khamitov said.

He noted Ufa and the Bashkortostan Republic at large hope to attract foreign investment and explore business opportunities through sideline talks of the BRICS and SCO summits.

The two summits will facilitate foreign recognition of Ufa and Bashkortostan and encourage business connections among the participants, the official said.

He further pointed out that the China-proposed Silk Road Economic Belt will instill a strong momentum into economic development of the Bashkortostan region as well as that of other partakers in the initiative.

"The 'Silk Road' is not just one road, but a combination of many different transportation links," as production and service facilities would mushroom along the route, said Khamitov.

He took as an example the trans-Eurasian highway, which "cuts through the Bashkortostan Republic". "The 'corridor' would considerably speed up delivery of Chinese goods to Russia and Europe, and vice versa."

Development of transportation infrastructure such as highway and railroad, as well as the opening of direct flight routes, will contribute to explosive growth of regional and cross-border trade and cooperation, Khamitov elaborated.

Meanwhile, Khamitov urged to build up business ties among small and medium-sized enterprises, which could lay a solid foundation for regional development.

"I am absolutely convinced that we found the optimal mode of cooperation among countries of BRICS and the SCO, and it has a bright future," Khamitov concluded.

The head of the republic added many Russian-Chinese cooperation projects are underway and have produced considerable results, while calling upon Russia to draw from Chinese experiences in technological modernization and solving certain kinds of economic problems.

According to Khamitov, dynamic cooperation has begun "thanks to substantial work of Russian and Chinese leaders, who have set up the tasks of joint work, drew horizons we must reach and directions we must work in."

"We foresee considerable cooperation projects with Chinese enterprises...The Bashkortostan republic sets it as a task to double or even triple the trade with China in the next few years," Khamitov said. Endi