Russian resurgence & its economic impact
of Europe. Russia has strengthened Commonwealth of Independent States, CIS and Eurasian Economic Email:email@example.com Zone consisting of Armenia, Belarus, Kazakhstan, and Kyrgyzstan. On its East deep hug with India is turning into loose embrace as INDIA is drifting in US lap. We also see Russia using its position in Security Council prudently and boldly. On economic front Russia is emerging from slumber and expected the economy gearing up in next two to three years. With this Russia is already exerting its influence on the global stage ending one super power scenario,
Russia’s history stretches back to nomadic time, nomadic pastoralist developing in the period and stretches before Christ in 8th century BC. The greater Russia started rising from 15th century and later subduing Khanates and continued expanding. It is in 17th century that modern Russia takes form and we see its presence in Europe power struggle during these centuries and eventually turning in to an empire which continued expanding till 20th century.
With communists coming into power, Bolshevik Soviet Empire and having been victorious in Napoleonic, and victory in World wars the Soviet empires stretched 11 time zones from eastern fringes to Alaska. It is in 1991 on the break up, that the present day major land mass declared itself as Russian Federation. From 1991 to 2015, Russia went through another transformation from Communism to Capital economy. If Avon the Great consolidated in 15th century, Stalin transformed Russia after the Victory of WW2, not only turned it to a modern state and expanded the empire. Russia now is re-emerging under Vladimir Putin once again shedding the lethargy and chaos, which engulfed Russia over the recent decades.
From 1999-2000 Russia made spectacular strides in economy, and is 6th largest in the world regardless of sanctions. It has maintained its Foreign Currency reserves around 350 billion from less than 500 it planned. Its GDP growth has been positive, around 1.5 % and per capita income is variable ranging up to $25000. IMF and World Bank gave positive rating and it is expected Russia will recover fully by 2017. The oil is rising again as at $ 70 Russian economy will even up.
The row with Turkey also has cost. All imports and exports are banned, resulting to throw open the market of around $ 22 billion in consumer goods. For Pakistan, it is golden opportunity. Pakistan Business Forum in the last seven years has made in un-daunting efforts to promote awareness in both the countries; this Forum has been receiving Trade delegations and also sent businessmen to Russia. Forum has been approaching at all levels to project problem areas on both sides. Major problem has been the banking facilities, visa issuance problems, non availability of direct flight, and above all the lack of awareness on both sides, which can be tackled with frequent exchanges of delegations and conduct of trade exhibitions. There is a great potential to export meat, chromium, marble, garments, apparels, bed and linen, denim, surgical goods, auto and tractor parts, rice, fruit of different kinds, basically Kino and Mango, Herbal medicines and approved pharmaceuticals.
There are at least seventy Russian companies who are interested to do business and also make investment in Pakistan. In the import sector, Russia is in a position to help Pakistan in high technology, space communication, machinery, agri and farm equipment, including heavy construction machinery, mining, mining equipment, oil gas exploration and equipment, chemical, steel and renovation of Steel Mills, participation in power sector, turbines, hydro power projects, modernization of railways, underground and over ground metro in urban cities. There are companies, which are willing to come in joint ventures, especially in the field of heavy commercial and military vehicles. I strongly recommend there should be media exchanges to promote awareness, which is lacking at the moment. —The writer, retired Brigadier, is decorated veteran of wars and a defence analyst based in Lahore.