Islamabad, 19 January 2023 (TDI): The 8th meeting of the Pakistan-Russia Intergovernmental Commission (IGC) on Trade, Economic, Scientific, and Technical Cooperation began in Islamabad.

The three-day meeting aims to review existing areas of cooperation and identify new opportunities to deepen bilateral relations between the two countries. Around eighty members Russian delegation is attending the meeting.

Agenda of the meeting

Technical sessions on trade, investment, agriculture, energy, & industry were held on the first day of the commission meeting.

The meetings discussed prior decisions made by the two nations regarding the relevant issues & deliberated on fresh suggestions for collaboration.

The recommendations from these technical meetings will implement into the Commission’s main protocol. On the third day of the meeting, during the plenary session, both sides will discuss, approve, and sign on them.

The two parties will hold technical discussions on Thursday to finalize the “Draft Protocol” of the ongoing 8th IGC session.

It will cover strategies for fostering collaboration across a range of industries, including commerce and investment, energy, industry, & education.

The primary discussion about the implementation of the “Pakistan Stream Gas Pipeline (PSGP)” gas pipeline building project will take place on Friday.

Also read: Russia to provide discounted petrol & diesel to Pakistan

The distribution of oil and petroleum products to Pakistan, as well as financial cooperation between Russia and Pakistan, will be the topics of discussion. Lastly, the final protocol of the 8th commission meeting will be signed.

Remarks from Pakistan’s side

Secretary Ministry of Economic Affairs of Pakistan, Kazim Niaz addressed the opening session of the meeting. He said that huge potential exists there to benefit from the comparative advantage between Pakistan and Russia.

The Secretary talked about the disastrous floods and expressed gratitude for the assistance provided by the world community in such dire circumstances.

It is important to note that the commission’s 7th session took place in Yekaterinburg, Russia, during the final week of November 2021.

Niaz also expressed appreciation to the Russian government for its ongoing assistance throughout this period. He claimed that improving economic trade and investment relations was Pakistan’s top objective.

Remarks from the Russian side

Speaking at the event, Israfil Ali-Zade, Deputy Director of the Department of the Ministry of Economic Development of the Russian Federation, emphasized the importance of Pakistan to Russia.

According to him, there is strong cooperation in all economic sectors, and Russia wants to make it even better. Israfil claimed that there is an enormous potential between the two economies and both should enhance them.