Moscow (TDI): The Pakistan-Russia Trade and Investment Forum officially kicked off in Moscow on Tuesday, with an aim to boost bilateral trade and investment between the two countries.
Federal Minister for the Board of Investment Abdul Aleem Khan addressed the inaugural session.
“Pakistan’s goal is to increase foreign investment and strengthen trade relations with Russia. We seek to enhance our trade activities and attract more investment from abroad,” the minister said.
He noted that trade between Pakistan and Russia exceeded $1 billion over the past year, highlighting the significant potential for further growth.
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Aleem highlighted that Pakistan was currently exporting leather, potatoes, textiles, fabrics, fruits, and rice and other goods to Russia.
“Other items, such as surgical instruments, cutlery, ready-made garments, and other products are also being exported to the Russian market.”
On the other hand, Pakistan imports crude oil, mineral coal, frozen vegetables, and synthetic rubber from Russia.
“Russia has a strong market in Pakistan for industrial machinery, high-tech equipment, tractors, and agricultural tools,” Aleem added.
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The minister also highlighted the longstanding diplomatic and trade relations between Pakistan and Russia. He said there was room to further enhance joint business ventures and collaborations.
He also mentioned the recent meeting between Russian President Vladimir Putin and Pakistani Prime Minister Shehbaz Sharif, which underscored the commitment to deepening economic ties.
Aleem said the core purpose of this forum is to improve business-to-business activities and create a roadmap for Pakistan’s trade and exports with Russia over the next five years.
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Through this forum, officials from more than 70 Pakistani companies met with Russia’s Ministry of Commerce and other business institutions.
The minister was hopeful that the forum would increase the interest of the Pakistani business community in Russia.
“The interest shown by Pakistan’s business community in Russia is encouraging, and we will provide all possible assistance to facilitate this partnership,” he concluded.
