Rustam Minnikhanov suggests that Pakistan's textile companies should localize their production facilities in Tatarstan

On March 18, during his visit to Lahore (Pakistan), Tatarstan President Rustam Minnikhanov held a number of meetings with representatives of Pakistan's business community.

The first meeting was held with senior managers of the All Pakistan Textile Mills Association. Chairman of the Association Aamir Fayyaz Sheikh briefly informed Minnikhanov about the current state of Pakistan's textile industry saying that there are about 400 factories producing yarn, painted fabrics and various elements of clothing in the country. These products make 60 per cent of Pakistan's exports.

Aamir Fayyaz Sheikh said that Pakistani textile goods are already exported to the Russian market, but in small quantities. "We are interested in increasing imports both to Tatarstan and other regions of Russia," he said.

In addition to supplying finished products, Minnikhanov also suggested that Pakistan's textile companies should consider the possibility of localizing their production facilities in Tatarstan.

"This sector has a huge potential. Having the status of a Russian manufacturer, you will be able to quickly respond to market demand,” he added.

Later on the same day, Minnikhanov had a meeting with representatives of the Chamber of Commerce and Industry of Lahore. The parties discussed further steps to support joint business contacts.

Minnikhanov noted that the Chamber of Commerce and Industry plays a key role in the development of interregional business cooperation. Tatarstan President gave Board Chairman of the Tatarstan Chamber of Commerce and Industry Shamil Ageyev an errand to work out a plan of events, including various exhibitions, exchange of business delegations, forums together with his Pakistani colleagues.

At their meeting Head of the Punjab Halal Development Agency and Minnikhanov considered various options for cooperation in the field of halal products and prospects for implementing joint halal projects. Tatarstan President invited specialists to Kazan to participate in the International Economic Summit "Russia-Islamic World:" KazanSummit", at which special attention is paid to the development of the Halal industry.

At his meeting with senior managers of the Bank of Punjab Minnikhanov discussed issues of cooperation in the field of Islamic banking.