Envoy stresses for increasing bilateral trade between Russia, Pakistan

Diplomatic CircleEnvoy stresses for increasing bilateral trade between Russia, Pakistan

PESHAWAR, Pakistan: The Russian Ambassador to Pakistan Alexey Yurievich DEDOV has stressed the need for increasing bilateral trade between Pakistan and Russia.

“The prevailing volume trade between the two countries is very low and it should be increased to a satisfactory level,” observed Russian envoy.

   

Alexey Yureivich DEDOV expressed these views while speaking to business community during his visit to Khyber Pakhtunkhwa Chamber of Commerce and Industry (KPCCI) here on Wednesday.

President KPCCI, Zulfiqar Ali, Trade Representative of Russian Federation, Yuri Kozlov, Counsel of Russian Embassy, Efegeny and prominent businessmen of KP were also present on the occasion.

Russian Ambassador said potential investors from Russia are showing interest for making investment in Pakistan.

He said both the countries should have to increase confidence between its people, businessmen and even governments.

He recalled big projects set up by former USSR in Pakistan including Pakistan Steel Mill (PSM).

He said still Russia want to launch projects in Pakistan and both the countries should work over removing hurdles in this connection.

Russian envoy also appreciated ongoing military operation Zarb-e-Azb against terrorists and expressed the hope that it will bring economic prosperity in Pakistan.

He agreed with the demand of President KPCCI about increasing exchange of delegations of businessmen from both the countries so that people to people contact improves as a result of which businessmen of both the countries would get awareness about investment opportunities.

Earlier, President KPCCI, Zulfiqar Ali in his welcome address termed the visit of Russian Ambassador to KPCCI a good omen and expressed the hope that interaction will be very fruitful for the bilateral trade between Pakistan and the Russian Federation.

President KPCCI said it is very unfortunate that bilateral trade between Pakistan and Russia stood at dollar 419.34 million in 2013-14 as against dollar 484.47 million in the previous year, reflecting a decline of dollar 65.13 million.

The decline is mainly due to fall of Pakistan exports to Russia which fell by 10.36 percent during the period under review, he added.

In 2014-15, the trade volume further slashed to dollar 390.29 million which is a source of anxiety for the business community as the present trade volume is a peanut while keeping in view the business potential of both the countries.

President KPCCI said the bilateral trade can be improved significantly by encouraging frequent exchange of business delegations.

We feel that there is great potential for bilateral trade in automobiles, construction, agriculture, energy, IT, steel, furniture, household equipment, textiles, meat and dairy sectors, suggest President KPCCI.

Zulfiqar Ali also appreciated Russian Federation decision of decreasing custom duty up to 35 percent on Pakistani goods in the wake of devastating floods in the country in 2010.

President KPCCI also assured the visiting guests that for the purpose of improving quantum of trade between the two countries, we are ready to sign MoU with Russian Federation Chamber of Commerce and Industry to enhance mutually beneficial relations between the two countries.

Source: APP

Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

Must read

Recent News

AUD to INR: Australian Dollar to Indian Rupee Today – 29 March 2024

0
The Australian Dollar (AUD) was trading at 54.28 as per the Indian Rupee (INR) on Friday.Currently, Indians are now the second-largest migrant group in...

USD to PKR: USD Dollar Rate in Pakistan Today – 29 March 2024

0
The US Dollar (USD) was being bought and sold at Rs 278.2 and Rs 280.9 in the Open Market against the Pakistani Rupee (PKR)...

Gold Price in Pakistan Today – 29 March 2024

0
On Friday (March 29, 2024), the gold rate for one tola of 24-karat in Karachi, Pakistan, is Rs 229,900.000.It's important to note that gold...
The Media Circus staged by judges in Pakistan

The Media Circus staged by judges in Pakistan

0
Islamabad, Pakistan: The Chief Justice of the Supreme Court of Pakistan Qazi Faez Isa, and Prime Minister Mian Shehbaz Sharif held a meeting to...

Pakistan vs New Zealand T20I Series Tickets to go on Sale from Friday

0
LAHORE, Pakistan: The tickets for the five-match T20I series between Pakistan and New Zealand will go on sale from Friday, March 29, 2024.The series...
Advertisement