During his working visit to the UAE, Rais of Tatarstan Rustam Minnikhanov took part in the plenary session of the Russia–UAE Business Forum “Architecture of Long-Term Growth: New Opportunities for Both Countries.”
This is the first Russia–UAE business forum, organized by the Russia–UAE Business Council with the support of the Ministry of Industry and Trade and the Roscongress Foundation. The event focuses on trends in technological cooperation — in particular, which technologies have the greatest potential for use in the real sector and which joint areas could bring the most value to both economies.
A dedicated session will also address prospects for cooperation in investment. Another track explores logistics and ways for the two countries to simplify cross-border transactions and reduce trade barriers.
Responding to a question from the session moderator, Rustam Minnikhanov outlined Tatarstan’s competitive advantages for long-term partnership with the UAE. “Tatarstan consistently ranks among the leaders in Russia’s National Investment Climate Rating. We have built a strong investment and innovation ecosystem, with numerous platforms for projects of various levels and purposes,” he said.
Speaking about the republic’s economic and industrial potential, he highlighted several sectors showing strong growth: oil refining and petrochemicals; automobile, aircraft, helicopter and ship manufacturing; and mechanical engineering. “Tatarstan is also a recognized leader in digital transformation across all branches of the economy and public administration. These are competitive sectors that matter for long-term cooperation with the United Arab Emirates,” Minnikhanov added.
He stressed that as the UAE develops sustainable industry and high-tech production, it can find in Tatarstan a partner with a solid industrial and innovation base — while Tatarstan, in turn, gains access to investment and new markets. This, he said, makes the partnership mutually beneficial.
Another key advantage for cooperation is partnership-based financing. Tatarstan is the pilot region for implementing Islamic banking and finance principles in Russia. “Our data show a significant rise in demand for these instruments from both individuals and financial institutions. All major Islamic finance products are now available on our market. They were developed by specialists from Tatarstan certified by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). An AAOIFI office is set to open in the republic soon,” Minnikhanov noted.
GSV "Russia - Islamic World"
Photo: official website of the Rais RT
Based on materials from the Press Service of the Rais RT