Financial links with world of Islam key focus at KazanSummit 2015

23/05/2015 15:35 AST

Top international investment conference KazanSummit 2015 to be held June 15-16.

Russia's main economic forum for developing constructive global trade and investment with the Islamic world is a unique strategic event.

The Kazan Summit is organized annually by the Islamic Business and Finance Development Fund and supported by Russia's upper house of parliament, the Federation Council, the government of Tatarstan and regional investment agencies.

Seen as a major strategic event, its agenda focuses on globally significant issues that determine the direction and development of economic relations between Russia and the countries of the Islamic world. Past summits have targeted international trade, smart cities construction, foreign investments and food security.

This year's main theme for the 7th annual summit is 'Islamic finance for constructive global trade and investment.' Delegates from throughout Russia and the countries of the Organization of Islamic Cooperation (OIC) will be in Kazan - a city considered Russia's third capital - for the summit.

The Islamic finance industry is one of the most active developing sectors in world economics and is increasingly seen as an effective tool for the development of trade, investment and collaboration between Russia and countries of the Islamic world.

Russia was given special observer status at the OIC in 2005, providing it with a firm base for the improving relations with OIC member countries. The move created a political foundation for further cooperation. As part of that process, the Kazan Summit has become the main platform for developing relations between Russian regions and OIC member countries, taking economic cooperation to an international level.

Over the past seven years the Kazan Summit has gained an international reputation as a practical and engaging event. Numerous business deals have been sealed during past summits, investment projects developed and new business networks created.

Russia & India Report