The first day of KazanSummit 2015: Tatarstan as "Eastern gate" of Russia

On June 15 in Kazan began VII International economic summit of Russia and the countries of the Organization of Islamic Cooperation (OIC) KazanSummit 2015, where for participation have registered 746 people from 45 countries. The main topic of the international business forum was "Islamic finance for constructive global trade and investment".

The summit’s events was attended by the Acting President of the Republic of Tatarstan Rustam Minnikhanov, at whose invitation the international negotiating platform was visited by the President of the Islamic Development Bank (IDB) Ahmed Mohammed Ali Al-Madani. Meeting of the leader of the Republic and head of IDB was held in the morning of June 15 in "Korston".

During the meeting IDB President underscored that KazanSummit is a good platform for the development of relations between Russia and the countries of the OIC, praised the level of organization of the event. The event was organized by the Government of the Republic of Tatarstan, a central responsible body is Tatarstan Investment Development Agency. TIDA Chief Executive, Deputy Chairman of the Organizing Committee of the summit Taliya Minullina also participated in this meeting, as well as in other activities with the participation of the leader of the republic.

After the talks Mr Ali and Acting President inspected the specialized exhibition, where were presented the largest enterprises and objects of investment infrastructure of the republic. After the presentation of Tatarstan in the "Pushkin" hall was held a business breakfast, which was attended by representatives of business circles of foreign states and regions of the Russian Federation.

The central event of the first day of the summit was the Strategic Forum “Islamic Finance for constructive global trade and investment”, which plenary session was held in the Ballroom of "Korston". Addressing the high-ranking guests, Rustam Minnikhanov said: "I am sure that KazanSummit 2015 will further strengthen economic, trade and investment cooperation between Russia and the Islamic world, cooperation in the field of Islamic finance and banking". Rustam Minnikhanov said that Islamic banking can withstand the current economic crisis, is an effective addition to existing traditional financial system, the introduction of elements of Islamic financial system requires appropriate changes in the Russian legislation.

Presentations were also made by IDB President Ahmed Mohamed Ali Al-Madani (during the Strategic Forum he was awarded by the title of Honorary Professor of the Russian Islamic University), Russian Foreign Ministry's Ambassador-at-large Konstantin Shuvalov, Deputy Minister of Economy and Commerce of Qatar Sultan Al Khater, Chairman of the Investment and business International Association IBIA (Egypt) Ahmed Jalal Eldin Ibrahim, a member of the Board of the Central Bank of Turkey Necdet Shensoy, Indonesian politician, former Deputy Speaker of the Parliament of Indonesia Muhammad Anis Matta, President of OIC Youth Forum Elshad Iskandarov (Azerbaijan) and others.

The keynote speeches of speakers was the idea that in the current economic situation Russia and the countries of the Muslim world are interested in intensifying cooperation, including in the field of finance and investment. In particular, the representative of Qatar Sultan Al Khater said that under current conditions it is necessary to move from competition to cooperation, for constructive competition where everyone wins. Muhammad Anis Matta expressed the opinion that Russian-Indonesian relations is waiting for the transition to a new level - the strategic partnership, which involves the expansion of economic ties, including in the field of investment. At the end of the Strategic Forum signed a memorandum of understanding and cooperation between the Islamic Development Bank and the Youth Forum of the OIC.

Before flight to Moscow, where held a meeting of the Chairman of Central Bank of Russia Elvira Nabiullina and the President of the IDB Mr. Ali, Acting President of the Republic of Tatarstan Rustam Minnikhanov met with representatives of the federal and foreign mass media, the event was attended by TIDA Chief Executive Taliya Minullina.

During the meeting Rustam Minnikhanov answered questions relating to various areas, including investment and Islamic finance. Thus, answering the question of investment in agriculture, Acting President noted that the issue of food security is more relevant than ever and Tatarstan is interested in foreign investments. Rustam Minnikhanov mentioned Turkish Mir Holding project (Dizayn Grup company), which plans to create a mega greenhouse in the SEZ "Alabuga". This project is accompanied by TIDA. On the questions about Islamic banking Rustam Minnikhanov answered that Tatarstan became a platform for the introduction of Islamic banking in Russia need to do a lot of work, including changes in the direction of the federal legislation.

The final events of the first day of the summit was the Forum on Islamic economics, finance and banking, the Forum for International Trade and the closing of the I Kazan Forum of Young Entrepreneurs of the OIC.

The summit’s events will last till 16 June.

TIDA Press Service