Greater Eurasia at KazanForum 2026: what brings Tatarstan closer to the growing economies of the CIS countries

      At the plenary session of the International Economic Forum "Russia - Islamic World," the prospects for cooperation were discussed.

      Photo: Press service of the President of Tatarstan

      Deep localization in machine engineering, the transition to green technologies in energy, and the implementation of digital technologies in production management are the strategic priorities of the CIS countries that have entered a new stage of economic transformation after 2022. At the plenary session of the International Economic Forum "Russia - Islamic World," Uzbekistan's Deputy Prime Minister Jamshid Khojaev boasted about an influx of investments totaling $42 billion, Kyrgyzstan's Deputy Prime Minister Daniyar Amangeldiev reported an annual GDP growth of 10-11%, and the authorities of Azerbaijan noted a multiple increase in transit cargo. The shift from North to South has indeed transformed the economy of Central Asia beyond recognition. "What is the main thing? Trust!" — called on Minnikhanov to strengthen cooperation with Tatarstan, with which friendly ties have historically developed.

      How to turn a point on the map into a growth point

      The rich business program of the XVII International Economic Forum "Russia - Islamic World: KazanForum" has come to an end. At the concluding plenary session with the participation of high-ranking guests from Muslim countries around the world, the results of development in the Greater Eurasia space were summarized, and prospects for the future were outlined. The theme of the plenary session was "From Points on the Map to Growth Points: Uniting Technological and Financial Initiatives." "The true potential is revealed when they (territories, — ed. note) turn into growth points, hubs where technology meets capital, and entire ecosystems are born. Tatarstan has already proven the possibility of combining technology and finance," explained Rustam Minnikhanov in his opening speech.

      As it later turned out, there is no need to seek complicated paths. Uzbekistan, Tajikistan, and Kyrgyzstan are vivid examples of how the "North-South" corridor has opened new opportunities for the economies of Central Asian countries.

      Last year, a record amount of real estate was introduced in the country

      The first report was presented by the Deputy Chairman of the Government of Russia Marat Khusnullin, who focused on the dynamics of construction in the country.

      According to him, neither sanctions nor the fact that Russia is actively conducting a special military operation have affected the volumes of housing construction. The active investor is the population, and all conditions are being created for them to purchase housing. "Last year, a record amount of real estate was introduced in the country. We built 150 million square meters of real estate!" — reported Marat Khusnullin. The year 2025 also became the year with the largest volume of individual house construction — 63.5 million square meters were commissioned. "We are building the necessary infrastructure around housing. We are transitioning all developers to digital services — there are currently more than 2,000 of them in the country. Full monitoring of this work is underway," noted Khusnullin. 4.5 trillion rubles will be directed to the modernization of communal infrastructure by 2030, he assured. "The shift of Russia's economy and logistics flows from West to East has influenced the country's development plans," noted Russian Deputy Prime Minister Marat Khusnullin. However, he did not elaborate on this topic.

      Meanwhile, experts have repeatedly pointed out that the restriction of traditional trade routes through the North in the European direction has led to a reorientation through Central Asia and the Caspian region, and in these conditions, the significance of transit through Azerbaijan and Tajikistan has sharply increased.

      Islamic finance, digital financial assets, and halal: what do we have in common

      Tatarstan is most closely connected with the growing economies of Muslim countries. The share of the Organization of Islamic Cooperation countries in Tatarstan's foreign trade turnover exceeded 50% and amounted to $7.4 billion, reported Minnikhanov. For comparison, Kyrgyzstan's foreign trade turnover with Russia was only $5 billion (this figure was later provided by Kyrgyz Deputy Prime Minister Daniyar Amangeldiev, — ed. note). He called for considering Tatarstan as a region of Russia that will become "a bridge between Europe and Asia." The republic's orientation towards the application of Islamic finance also unites.

      Rustam Minnikhanov reported that within the framework of a partnership financing experiment, about 35 billion rubles were attracted in Russia, which is six times more than in 2024. In general, he considers the transition to digital tools promising. "On the global market, the volume of Islamic fintech companies is about $200 billion, and by 2029, according to forecasts, it will increase to $340 billion. The average global growth rate is 11.5%," he added. "There are about 500 Islamic fintech companies in the world from more than 40 countries. This is evidence of the stability, growth of the industry, and preservation of a dominant position in various sectors and regions," stated the President of Tatarstan.

      Investment boom in Uzbekistan

      Last year, $43 billion was invested in Uzbekistan's economy, and this year the goal is to master more than $50 billion, reported Uzbekistan's Deputy Prime Minister Jamshid Khojaev. Behind these figures are specific international partners in almost all key sectors of industry and energy.

      Many European companies, such as Total, ID, and Linde, operate in the country's market. The presence of Chinese giants, including Datang, China Power, and Shanghai Newbel Energy, is strong. "Rosatom" operates in the field of nuclear energy. In the area of critical minerals and strategic raw materials, Uzbekistan collaborates with King, Itochu, Cour Capital, Trexis, and others. "This indicates that Uzbekistan is becoming an integral part of the strategic chains of global energy and industry," noted Khojaev.

      Russia remains one of Uzbekistan's key economic partners. However, it is important for the authorities that relations transition from ordinary trade to industrial cooperation. "These can be joint ventures for technological partnerships in logistics, machine engineering, energy, agro-processing, and personnel training. This is also where Tatarstan's key role lies. We see great potential, and we already have practical examples of cooperation," reported Jamshid Khojaev. "Uzbekistan today offers partners not one-off projects, but a long-term platform for joint growth," he noted during the plenary session.

      Kyrgyzstan has been growing for the fourth consecutive year, Tajikistan attracts with benefits

      The authorities of Kyrgyzstan have identified strategic directions in the field of digital transformation, green energy, and innovation, reported the Deputy Prime Minister of the republic Daniyar Amangeldiev. He noted impressive economic indicators: by the end of 2025, the real GDP growth of the country exceeded 11%, and for the fourth consecutive year, this figure has remained at no less than 10%.

      According to him, relationships are currently being built with international financial institutions to expand access to global markets, and a flexible financing system is being constructed in the country. A tax reform has been carried out, and an investment protection law is in effect with 40 countries worldwide. The number of permitting documents has been halved to 430. "All this contributes to creating a favorable investment climate," noted Amangeldiev.

      The economy of Tajikistan is also thriving. The country has strengthened its energy independence and accelerated the pace of industrialization while maintaining extremely low inflation within 5%, reported the country's Prime Minister Kohir Rasulzoda. The country's GDP grew by 8% by the end of 2025.

      The main areas of cooperation with Russia are machine engineering, petrochemistry, and digitalization, he named. "What hinders attracting financing for infrastructure projects?" — the moderator asked him.

      Firstly, volatility in the currency market. Because of this, it is difficult to plan business projects. Secondly, differences in technical standards and regulations between countries. To mitigate risks, changes have been made to the tax code, and 240 types of tax preferences have been introduced, including 110 customs concessions. An investment attraction strategy has been adopted until 2040. Rasulzoda noted that the authorities are trying to create predictable conditions for private investors.

      The authorities of the CIS countries unanimously agree that Russia remains an important economic partner, Tatarstan plays a key role in interregional relations, but relations must transition to a new technological level.

      Louisa Ignatieva