Pakistan and Russia may devise out a land route for future trade

May 22, 2018 (Moscow, Russia) Pakistan and Russia may devise out a land route for future trade which will be cheaper source of transportation and help selling our products at competitive prices. This was stated by Syed Mazhar Ali Nasir Senior Vice President of FPCCI while addressing the Institute of Oriental Studies Moscow, Russia. The FPCCI delegation is on a visit to Russia to meet the counterpart in Moscow and to participate in the SCO Business Forum scheduled at St. Petersburg Russia.

He further said that with the advent of WTO regime the Global economic scenario has changed. The motives have been shifted from political to economic need and the nations, which once had irritants on political grounds, are emerging as close friends at economic fronts, he added.

While addressing on the event of “70 of Pakistan and Russia Diplomatic Relations” he said that Economic relations between Pakistan and the Soviet Union established in the early 1950s witnessed aggressive progress when the Soviet Union agreed to import Cotton, Jute and Leather. Both the countries established an oil consortium in 1958, and the Soviets expressed readiness to establish Pakistan’s first Steel Mills In 1961.

He further stated that the Government of Pakistan and Russian Federation has intensified their interaction. Now it is time of private sector to capitalize these efforts. Both members of FPCCI and Federation of Russian Chambers of Commerce and Industry may try their utmost to expand bilateral trade relation up to the optimum level which is hovering US $ 541 million. He also said that both the countries should remove existing irritants in the bilateral trade and private sectors should make serious efforts to avail the opportunities at the optimal level. Pakistani Ambassador Qazi Khalilullah also attended the event.

Source: http://www.fpcci.org.pk/