Importance Supporting foreign trade companies is an important aspect of the State financial policy to form the export potential and implement the import substitution policy, considering external challenges and global sanctions. For purposes of a comparative analysis, I chose macroeconomic indicators and data of the Republic of Bashkortostan as one of the regions with high export capabilities. Objectives The objective of the research is to examine the financial policy as part of foreign trade of the Republic of Bashkortostan and identify the key tasks and factors that curb growth in export capabilities. The research pursues finding priorities of the State financial policy as part of foreign trading policy of the Republic of Bashkortostan; formulating financial policies of business entities operating in foreign trade; preparing proposals to improve the State policy of the Republic of Bashkortostan. Methods The hypothesis is based on methodological aspects of generating customs statistics on data of State programs, Central Bank of the Russian Federation, Treasury of the Russian Federation, and statistical data of the region and regulatory framework for the State policy in foreign trade. Results As the analysis shows, federal authorities undertake some comprehensive measures to improve the efficiency of the State financial policy intended to stimulate foreign trade activities. I study trends in the foreign trade of Russia and the Republic of Bashkortostan in terms of export and import structure, and analysis of the national and regional foreign economic activity. The article presents my proposals to enhance financial policies of entities as part of the import substitution policies and improving the efficiency of foreign trade. Conclusions and Relevance The research brings its practical value as foreign trading companies have to include into their financial policies strategies for entering international markets and improve the quality of their products in accordance with international standards, thus reinforcing Russia's positions in global markets.
Keywords: financial policy, Republic of Bashkortostan, foreign economic activity, productivity
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