Russian envoy stresses joint efforts to boost trade relations

Says some Russian companies are keen to explore opportunities in Pakistan

KARACHI: Pakistan and Russia have better prospects of enhancing the existing trade and investment cooperation, therefore, it is very necessary to make joint efforts under the roadmap, which had been agreed at the sixth session of the Russian-Pakistan Inter-Governmental Commission held last year in December, said Trade Representative of Russia Yury Kozlov.

Exchanging views at a meeting during his visit to the Karachi Chamber of Commerce and Industry (KCCI), he stressed that in order to improve the existing trade ties, there is a need to exchange more delegations, encourage participation in exhibitions, fairs and conferences being held in Pakistan and Russia on economic and investment issues.

Kozlov disclosed that Russia is engaged in numerous projects and is cooperating with Pakistan in the construction of the north and south gas pipeline from Karachi to Lahore and is also working on a project at Jamshoro Power Plant for production of 600MW.

He said that Russian companies were keen to explore opportunities in Pakistan, whereas, the business and industrial community of the Karachi Chamber should look into the possibility of participating in numerous trade exhibitions in Russia.

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The Russian envoy urged KCCI to send a trade delegation to Russia with a view to enhancing the existing trade and investment cooperation between the two countries.

Also speaking on the occasion, KCCI President Agha Shahab Ahmed Khan said that the bilateral trade between Pakistan and Russia is expanding but at a relatively slow pace and the present trade volume does not reflect true trade potential between the two countries.

Highlighting the potential areas of enhancing cooperation between Pakistan and Russia, he said that the oil and gas sector and heavy industries are two promising areas for Russian investors.

He was of the opinion that both countries will have to make collective efforts and enhance their cooperation in a more aggressive manner in order to achieve a good growth rate during the current challenging era.  

Published in The Express Tribune, February 7^th, 2020.

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