Stronger Ties Between Russia, Islamic World Stressed for Economic Progress

Tue Dec 17 2024
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KUALA LUMPUR: A Pakistan lawmaker has stressed the need to forge stronger ties between Russia and the Islamic world for economic growth and prosperity.

Member of the National Assembly of Pakistan Sehar Kamran was speaking during a meeting of the Group of Strategic Vision “Russia – Islamic World” (GSV), on the topic of “Interaction between Russia and the Islamic World in the Era of Emerging Multipolarity”, here this week.

The meeting was attended by about 200 people including the Group members who were leaders of Muslim communities of the BRICS countries, the Asia-Pacific region (APR) and various industry experts.

Kamran said there was growing diplomatic, political, economic, trade and military cooperation between Pakistan and Russia and that the latter was also making constructive efforts to bring stability to Afghanistan

The meeting agenda included summing up the results of the BRICS summit (held in Kazan in October), developing cooperation in the economy, Islamic banking and security, as well as prospects for joint work in the political, trade and economics; cultural and humanitarian; and spiritual and moral spheres.

“The fractures in global political structures are putting greater strain on global economic and trade landscapes. International trade is experiencing a deep transformation as emerging economic powers like China, Russia, and Brazil reshape trade patterns, challenging traditional Western dominance,” Kamran added.

She said this shift from a unipolar to a multipolar framework signals a crucial evolution in trade relations, with new alliances such as the Shanghai Cooperation Organization (SCO), BRICS, and the Regional Comprehensive Economic Partnership (RCEP) fostering cooperation among emerging nations and increasing their influence on global trade rules.

However, she said this major transition is not without risks. She said the global political and economic structures are under tremendous stress due to geopolitical and strategic competition between pro-status quo powers and anti-status quo powers. ”I believe this provides a unique opportunity for both the Russian Federation and the Islamic world to enhance their dialogue and cooperation, which must encompass the entire spectrum of relations”, she said.

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She said the new paradigm of cooperation should be built upon mutual respect, equality, and an understanding of the cultural sensitivities of each civilisation.

“It is very encouraging to note that, in recent times, we have witnessed warmth between the leadership of the Russian Federation and the leadership of the Islamic world. The recent sixteenth annual BRICS summit (October 22-24, 2024) signifies this momentum, as three Muslim countries—namely, Egypt, Iran, and the United Arab Emirates (UAE) joined BRICS as member countries. Furthermore, the latest Shanghai Cooperation Organization (SCO) head of state summit (October 15-16, 2024), hosted by Pakistan, signifies a positive trajectory for this special relationship. Moreover, in 2023, trade between the Russian Federation and OIC countries increased by 30 per cent, showcasing the growing economic ties and mutual benefits of collaboration”, she highlighted.

“Apart from deepening political and economic interactions between Russia and the Islamic world, we must strive to build robust people-to-people contacts, as well as interreligious and interethnic bonds between the two civilisations,” she said, adding the Organization of Islamic Cooperation (OIC) has a combined population of about two billion and a collective GDP of approximately US$27.949 trillion.

: “Organization of Islamic Cooperation has a combined population of about two billion and a collective GDP of approximately US$27.949 trillion.” – Pakistan lawmaker Sehar Kamran

“Russia is home to approximately 26 million Muslim citizens, who make up about 15 per cent of the country’s population. In 2003, Russian President Vladimir Putin was invited to speak at an OIC summit, becoming the first head of state from a non-majority Muslim country to address the council. Currently, Russia holds observer status in the Organization of Islamic Cooperation (OIC), which underscores its commitment to fostering constructive relationships with Muslim-majority countries and highlights its strategic interest in strengthening ties with the broader Islamic world”, she said.

“Russia is home to approximately 26 million Muslim citizens, who make up about 15 per cent of the country’s population.” – Pakistan lawmaker Sehar Kamran

She underlined the need to recognise the potential for collaboration in various sectors, including energy partnerships, trade relations, and joint counterterrorism initiatives, reflecting our shared interests in security and regional stability. The exploration of Islamic finance by Russian banks is another promising avenue, offering opportunities for both Russian investors and Islamic financial institutions, she remarked.

The parliamentarian was optimistic that the proceedings of this session and its outcomes would provide an alternative common vision for Russia and the Islamic world, encompassing security and peace, energy, technology, and investment.

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