Tatarstan seeks to boost ties with Malaysia

HANOI, December 15 (Itar-Tass) - Cooperation between Tatarstan and
Malaysia is of mutual interest, President of Tatarstan Rustam Minnikhanov
said at a meeting with the leadership of the Malaysian International
Development Association on Wednesday.
The head of the Russian republic told representatives of the
association about the economic potential of the republic, putting emphasis
on most developed sectors of its economy, such as oil production, machine
manufacturing, agro-industrial sector, education and information
technologies.
According to the president, up till the present moment, cooperation
between Malaysia and Tatarstan has been insufficient, and has not met the
existing potentials.
Minnikhanov expressed confidence that Tatarstan and Malaysia will make
every effort to promote their cooperation on promising directions. The
leadership of the Association, for their part, also confirmed the interest
of the Malaysian side in the development of relations with Tatarstan.
Earlier, Minnikhanov met with the leadership of the National Bank of
Malaysia, where they discussed participation of Islamic instruments of
financing in the economy of Tatarstan. "Cooperation between Tatarstan and
Malaysia in the development of Islamic banking will make it possible to
determine ways of the further development of Islamic finances both in
Tatarstan and in the Russian Federation," he said.
The delegation accompanying the president of Tatarstan includes heads
of major industrial enterprises and financial agencies of Tatarstan,
including KAMAZ, Tatneft oil company, Ak Bars holding company and Linova
investment company.
Some of them have already signed agreements on the development of
cooperation with Malaysian partners. A memorandum on mutual understanding
was signed between KAMAZ truck manufacturer and Malaysia's DRB HICOM, a
major financial and industrial holding.
Under provisions of that document, the sides intend to develop
cooperation on such directions as assembly of KAMAZ truck and their sales
on lucrative markets of South-East Asia.
The president of Tatarstan noted that promoting KAMAZ trucks to
Malaysian markets is one of the main aims of the current trip to Kuala
Lumpur. "One of the promising Tatarstan-Malaysia projects has been
launched," Minnikhanov stressed.
-0-zhe/gor