Russian investors keen to boost investment in Pakistan

Moscow official discusses options for promoting business collaboration

ISLAMABAD: Russian investors are keen to explore business opportunities in Pakistan and want to further strengthen trade and investment cooperation with Pakistani counterparts, said Moscow Chamber of Commerce and Industry Commission for Pakistan Head Stanislav L Korolev.

While addressing the business community at the Islamabad Chamber of Commerce and Industry (ICCI), he discussed various options for promoting business collaboration between the private sectors of both countries.

Korolev said that Russia had advanced technology in the industrial sector and Pakistani entrepreneurs could better promote their business by enhancing close cooperation with Russian counterparts. He said that Moscow CCI was sending its delegations to 40-45 countries every year and they were now taking great interest in Pakistan for business prospects.

Appreciating ICCI’s role in trade promotion, he invited ICCI to take its delegation to Moscow for B2B meetings with Russian counterparts and assured that his chamber would cooperate in connecting them with the right partners.

Russia plans to invest $14b in Pakistan’s energy sector

Also speaking on the occasion, ICCI President Muhammad Ahmed Waheed said that despite great potential, bilateral trade between Pakistan and Russia was far less than the actual potential of both countries. He stressed that both should encourage frequent exchange of trade delegations to explore all untapped areas of mutual cooperation. He said that Pakistan exporters were now focusing on Russia and Central Asian Countries for trade and exports and Russia could act as a gateway for Pakistan to get easy access to central Asian markets. He said that Russian investors should transfer technology to Pakistan and set up joint ventures in areas of interest.

He said that many special economic zones would be set up under the China-Pakistan Economic Corridor (CPEC) in Pakistan and urged that the Russian investors should explore joint ventures and investment in these SEZs.

ICCI Senior Vice President Tahir Abbasi and ICCI Vice President Saifur Rahman said that Pakistan could export Kinnow and other fruits to Russia for which enhanced collaboration between private sectors of both countries was needed.  

Published in The Express Tribune, December 11^th, 2019.

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