Rustam Minnikhanov suggests closer cooperation in the sphere of Islamic banking to Bahrain's leadership

On February 21, during a working visit of the Russian delegation led by Minister of Industry and Trade of Russia Denis Manturov to the Kingdom of Bahrain, Tatarstan President Rustam Minnikhanov took part in the first meeting of the Russian-Bahrain intergovernmental commission in trade, economic, scientific and technological cooperation in Manama.

Speaking at the meeting, Minnikhanov thanked the leadership of both countries for their attention to the development of regional cooperation within the framework of Russian-Bahraini relations. "Government and business circles of both countries are making efforts to develop cooperation in various spheres. For its part, Tatarstan is ready to actively participate in these processes at the regional level," he said.

Minnikhanov reminded that by the order of Russian President Vladimir Putin he heads the "Russia - Islamic World" Strategic Vision Group, in the work of which representatives of Bahrain also take part. The next meeting of the group will be held in the Chechen Republic (Grozny) in May this year. "We would be grateful to Bahrain's leadership for the opportunity to hold a meeting of the working group in your country. I also suggest considering holding the next meeting of the Russian-Bahraini Intergovernmental commission in Kazan," he continued.

According to Minnikhanov, Tatarstan already has contacts with Bahrain. Over the years, we paid mutual visits, supplied Tatarstan engineering products to Manama, maintain humanitarian contacts. Republic is interested in deliveries of KAMAZ vehicles (multiple winner of the Paris-Dakar rally), helicopters, passenger ships, petrochemicals and fertilizers, oil and gas equipment, gas turbine, gas-pumping equipment and compressors, refrigeration equipment, food and agricultural, medical and pharmaceutical products, he added. 

"We invite your companies to participate in investment projects in our republic. There are two special economic zones in Tatarstan. We are ready to create the best conditions for Bahrain's residents," Tatarstan President assured.

Minnikhanov continued that every year the capital of Tatarstan hosts the International economic summit "Russia - the Islamic world: «KazanSummit». The Forum has become an effective platform for economic cooperation between Russia and the Muslim world. In 2016, more than 1,500 people from over 50 countries attended the event. Tatarstan President invited representatives of the country's leadership and business circles to visit the KazanSummit - 2017 to be held on May 18-20.

"Bahrain is kind of a financial center of the Middle East. I would like to note that our republic is Russia's pilot region to implement the principles of Islamic banking and finance. We can cooperate closer in this area," Minnikhanov said.

Summing up, Tatarstan President said that this summer Kazan will host a major sporting event - the FIFA Confederations Cup 2017 and the FIFA World Cup in 2018. "We are looking forward to seeing fans from Bahrain in our republic," he added.