Tatarstan President: Tatarstan and Turkey have enough opportunities for the development of business ties

On May 15, during a working visit of Tatarstan delegation to Turkey, speaking at a business forum with the participation of business circles of both republics at Bursa Chamber of Commerce and Industry, Tatarstan President Rustam Minnikhanov said that Tatarstan attaches great importance to further attraction of Turkish business and capital to the republic and is ready to provide full assistance in it.

Minnikhanov emphasized that Tatarstan pays special attention to expanding cooperation with Turkey, aimed at strengthening Russian-Turkish relations. He expressed gratitude to the leaders of the two countries for the support of the Tatarstan-Turkish joint projects.

According to Minnikhanov, Tatarstan can rightly be considered one of the most attractive Russian regions for Turkish business.

Repeated visits of representatives of Turkey’s senior officials, ministers, provincial governors, business delegations to Tatarstan and a number of joint business events held, made a great contribution to the development of relations. There is a cooperation agreement between Tatarstan and Turkey. The Consulate General of Turkey is successfully operating in Kazan and a representative office of Tatarstan in Istanbul. There are also regular flights between the republics. “Turkey is one of the leading foreign partners of Tatarstan. Our turnover increased last year. However, we have a room for improvement,” Minnikhanov said and informed that the trade turnover was three billion US dollars in 2008.

Tatarstan President reported that Turkish companies invested about two billion US dollars in the republic. A number of Turkish factories are successfully operating in Tatarstan, in particular Kastamonu Entegre, Hayat Kimya, Şişecam - Trakya Glass, Coskunoz Holding and many others. A joint project of the Magnitogorsk Iron and Steel Works and Coskunoz Alabuga is a plant, manufacturing the forms for stamping car body parts.

Kazan Palace Hotel of Polimeks Company was commissioned last year.

Tatarstan President briefed about the economic potential of Tatarstan, experience of work with foreign investors and the infrastructure for the development of business projects in the republic.

Speaking at the meeting, Governor of Bursa province Yakup Canbolat said that the province is ready to contribute to strengthening of relation between the republics.

Trade representative of Russia in Turkey Aydar Gashigullin added that the trade turnover between Russia and Turkey increased by 15 per cent and amounted to 25.5 billion US dollars. “Large-scale projects in energy, petrochemical, wood, glass, agricultural, construction and other industries have been implemented and are being implemented,” he said.

Head of Tatarstan Investment Development Agency Taliya Minullina made a presentation of investment potential of the republic.

Then, Tatarstan President and the governor of Bursa province took part in a ceremony of signing of a cooperation agreement between the Chambers of Commerce and Industry of Tatarstan and Bursa.