Pakistan, Russia begin new chapter to boost business

ISLAMABAD: A major breakthrough has occurred in the trade and business sector between Russia and Pakistan at the first Pakistan-Russia Trade and Investment Forum, which was organised for the first time in 76-year history of the two countries.

In Moscow, business activities between the two countries were scheduled in which mutual investment agreements were signed to increase import and export, benefiting from each other’s experiences. Under the leadership of Federal Minister for Board of Investment, Privatisation & Communications Abdul Aleem Khan from Pakistan, the chief executive officers (CEOs) of more than 70 companies visited Moscow and attended a 3-day business forum, while heads of about 100 Russian companies participated.

A meeting was held between Moscow Chamber of Commerce President Platonov Vladimir and Federal Minister Abdul Aleem Khan. It was decided in the meeting that Russia would cooperate with Pakistan in IT, technology, safe city projects and IT centres, while bilateral business activities would be increased for leather and textile, agricultural products, fruits and vegetables and other commodities.

Abdul Aleem Khan, along with Russia’s Deputy Minister for Trade Alexey Gruzdev and Russian Federation Adviser Evgeny Fidchuk, also signed various memorandums of understanding (MoUs), according to which Russia and Pakistan would increase imports and exports of food items.

The federal minister termed the visit to Russia successful and said Pakistan was ready for the promotion of bilateral business. Offering full cooperation, both Pakistan and Russia agreed to prepare their lists of companies. Aleem invited Russia to participate in the Textile Expo in Pakistan in October. Moscow Chamber President Platonov Vladimir, Vice President Ms Mishchenko Vladislav and head of UMS Ms Lukashenko Lidiya Aleksandrovna expressed their gratitude to Aleem Khan and said that both the countries could cooperate in high-tech, minerals, information technology and other sectors to make more progress in the field.

Senators Danish Kumar and Zia Longo from Pakistan and Senators Chezouv and Ms Sakharova also participated in the visit to Russia while Pakistan’s Ambassador to Russia Khalid Jamali and Trade Minister Shaukat Hayat also played an active role in organising the Pakistan-Russia Trade & Investment Forum. Federal Minister Aleem Khan expressed his satisfaction at the successful forum and said that Pakistan was committed to increasing public, cultural relations and bilateral cooperation with Russia in the future. The Moscow Chamber of Commerce should come forward and the business community of both countries should promote activities through cooperation to benefit Pakistan and Russia equally, he said.

Abdul Aleem said the visit would enhance mutual trade and increase the confidence of business communities of both countries.