Tatarstan PM seeking local business, trade opportunitiesin Colorado

The prime minister of the Republic of Tatarstan, Rustam Minnikhanov, will be in Colorado Springs on April 11 to discuss business and trade opportunities with some of the city's business leaders.

The country, located about 500 miles southeast of Moscow, is considered to be one of the most economically stable and wealthiest regions of the Russian Federation because it is active in the development of emerging technologies -- but mostly because it's rich in oil.

The main purpose of Minnikhanov's visit is to discuss hosting the University Olympic Games, but the prime minister likely will take the opportunity to meet with Colorado business leaders about creating trading partnerships, said his business partner and former Republican candidate for Colorado governor Marc Holtzman.

However, many of those business leaders might be interested to know more about Tatarstan's oil opportunities.

Oil production is the country's main industry, and Tatarstan is responsible for more than 10 percent of the region's total oil production, some 32 million metric tons a year.

Minnikhanov said his country is estimated to have 1 billion metric tons of extractable oil.

With reserves like that, it's easy to see how beneficial a partnership between Tatarstan and the United States, or even Colorado Springs, could be.

"That's certainly a lot of oil. It's a huge amount," said Reggie Vandriest, a geologist with the Springs-based oil and gas research firm NRG Associates. "I can't think of any local government that wouldn't want a part of that."

Vandriest said he's not aware that America gets any oil from former Soviet countries, but he's heard that some U.S. companies have been working to develop infrastructure and build refineries in the region.

While it does not appear that there is a plan to start importing oil from Tatarstan, Minnikhanov said there is opportunity for American investment in some oil extracting infrastructure.

Aside from oil endeavors, Minnikhanov said Tatarstan has been successful at fostering small and large businesses.

Shortly after a visit to Colorado during 2002, Minnikhanov created a technology incubator in Tatarstan to help small startup companies get off the ground.

"The prosperity of the people has been amazing," Holtzman said.

Copyright 2008 Dolan Media Newswires
Provided by ProQuest Information and Learning Company. All rights Reserved.