August 16, Tatarstan President Mintimer Shaimiev met Bashkortostan President Murtaza Rakhimov in Aktanysh district of the Republic of Tatarstan.

During the talks the grand memorandum was signed in which the basic results of realization of bilateral agreements on friendship and cooperation of 1991 and 1997 were committed. The document expresses the partiesІ desire to consolidate and develop bilateral relations on the basis of mutual consideration, equality, confidence and partnership, to determine priority directions of trade-economic, scientific and cultural cooperation of the two republics.

During the press-conference the presidents mentioned that the agreement of 1991 fulfilled its historical task and showed that agreement relations between the republics of the renewed federal Russia is the dictates of the time and one of the most important exercise of democracy. On the opinion of Mintimer Shaimiev the memorandum itself is the confirmation of relationship between Tatarstan and Bashkortostan progressive development. Its aim is to make collaboration more effective.

The same day the Agreement between the Governments of the Republic of Tatarstan and the Republic of Bashkortostan on prolongation of the agreement on economic relationship between the republic of July 10, 1996 and the Agreement on cooperation and interregional integration of petrochemical complexes of Tatarstan and Bashkortostan were signed.