ISLAMABAD, Pakistan: Minister for Commerce Eng Khurram Dastgir has said Pakistan was struggling to initiate dialogue with Eurasian Economic Union (EEU) for a reaching a Free Trade Agreement (FTA) to gain competitive market access in Russian Federation.
Replying to a question in the Senate on Thursday, he said the Ministry of Commerce had requested Ministry of Foreign Affairs to reach out to EEU for initiation of talks for a FTA to get competitive market access in Russian Federation by lowering the customs duties applicable on Pakistani goods.
He said Pakistan and Russian Federation had not signed any trade agreement in last three years and Russian Federation was a member of Eurasian Economic Union (EEU), which was a customs union of Russian Federation and other former soviet states.
He said Russian government’s interest level for promoting trade with Pakistan had gone up as obstacles and trade disputes had been resolved due to vision of the Prime Minister’s vision, which help give boost to bilateral trade between the two countries.
He said Russian trade delegation was expected to participate in textile exhibition in April in Karachi and these activities would gradually gain pace, adding to bilateral trade volume.
However, he added, sanctions on Russia and unrest in adjoining parts like Ukraine also had bearing on bilateral trade volume which stood at US$390.29 million during five years, but now the trade activities between the countries would further improve.
He said two countries Ministry of Commerce had taken a number of measures to promote bilateral trade volumes, adding a seminar was held in Lahore in December by Trade Development Authority of Pakistan (TDAP).
He said the TDAP arranged participation of 12 exporters from agricultural sector in World Food Moscow exhibition in September last year to help them introduce and capture Russian Market.
He said Heimtextil Moscow was one of the leading, exhibitions for textile products and TDAP arranges participation of Pakistani exporters in this exhibition every year.
