Türkiye ranks as largest investor in Tatarstan: Envoy to Moscow

Participants attend a panel during the international economic summit "Russia-Islamic World: KazanForum 2024," Kazan, Tatarstan, Russia, May 15, 2024. (AA Photo)
Participants attend a panel during the international economic summit “Russia-Islamic World: KazanForum 2024,” Kazan, Tatarstan, Russia, May 15, 2024. (AA Photo)
Making significant investments, Türkiye has positioned itself as the largest investor in Tatarstan at a time when Russia is seeking to strengthen its ties with Muslim nations, Turkish Ambassador to Moscow Tanju Bilgiç told Anadolu Agency (AA) on Thursday.

Noting that Tatarstan is one of Russia’s gateways to the world, Bilgiç said that several investors are attracted to the region’s capital Kazan.

“Russia is trying to improve its relations with Muslim countries through Kazan and Tatarstan,” Bilgiç told AA on the sidelines of the 15th international economic summit “Russia-Islamic World: KazanForum 2024,” which will run between May 14 and May 19.

“Türkiye also has several investments in Tatarstan and (is) actually the biggest investor,” he said. “We have an investment of about $2.5 billion. One-third of Türkiye’s investments in Russia are in Tatarstan, in the Kazan region.”

Highlighting Russia’s substantial Muslim demographic, Bilgiç noted the steadily growing market for halal products.

The participation of Turkish companies in the halal market is crucial, Bilgiç said, adding that their presence at fairs dedicated to halal product producers is of significant importance.

Noting that it is one of the most economically developed republics of Russia, Bilgiç referred to the presence of oil, automotive and aircraft industries in Tatarstan.

He emphasized that numerous Turkish firms have established a presence there, actively pursuing business opportunities with Russia via Kazan and Tatarstan, with Türkiye’s full support.

Noting that the number of events and participants in the forum is increasing day by day, Bilgiç said that Türkiye’s Deputy Minister of Family and Social Policies Leman Yenigün was also in Kazan. “We are also representing Türkiye with many different companies,” he said.

The official opening ceremony of the 15th Kazan Forum kicked off on Wednesday in Kazan, the capital of the Russian Republic of Tatarstan.

The business program of the forum will focus on international cooperation, Islamic finance and investment, the halal industry, science and technology, cooperation in business, infrastructural development, human resources, tourism and culture.