Over the course of holding the KazanSummit, the volume of trade between Tatarstan and OIC countries has gone up by 32 per cent

8 May 2018, Tuesday

On May 8, speaking at a briefing in the Government House of the republic, Head of Tatarstan Investment Development Agency Taliya Minullina said that the Dubai Islamic Bank plans to open its branch in Kazan.

Currently, the bank has branches in six countries, mostly Muslim ones. The organization plans to expand and considers Russia as a possible site. The representatives of the National Bank of the Republic of Tatarstan and the Dubai Islamic Bank will discuss a road map for the implementation of the project at KazanSummit – 2018 to be held in Kazan.

Moreover, the forum will review the work of international investment funds in Tatarstan. Minullina reminded of cooperation with the German KGAL investment fund. In particular, an apartment house will be built on Khadi Taktash Street in front of Lake Kaban in Kazan under the signed agreement. Now, a project in the field of agriculture is being discussed, she added.

"This is a private fund, with the assets amounting to about 21.5 billion euros, which is a sufficient portfolio of assets that allows them to diversify their investments in different countries. We would like to be among these countries,” the head of the agency said.

Also, Minullina summed up the results of the ten-year history of the KazanSummit forum. Thus, the growth in the total volume of trade between Tatarstan and the countries of the Organization of Islamic Cooperation has gone up by 32 per cent.

Last year, Tatarstan exported its products to Iraq, Guinea, Palestine, Uganda for the first time. “In terms of investments, Turkey is our main partner of all OIC countries If we look at the total amount of investments attracted over the years, Turkey will have 90 per cent,” Minullina said.

The 10th International Economic Summit "Russia - Islamic World: KazanSummit" will be held in the capital of Tatarstan on May 10 - 12, 2018. To date, 23 diplomatic missions confirmed their participation in the event, which are represented by ambassadors of foreign countries in Russia. In 2017, 15 ambassadors attended the event.

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