Rus­sian En­voy urges traders to boost ties

The Pak Banker - - NATIONAL -

Rus­sian Am­bas­sador to Pak­istan Mr. Alexey y. De­dov has urged the pri­vate sec­tor of both coun­tries to come for­ward and play its role in giv­ing quan­tum jump to the bi­lat­eral trade.

Ad­dress­ing a func­tion or­ga­nized by Faisal­abad Cham­ber of Com­merce and In­dus­try (FCCI) Mon­day late night, he said that trade ties be­tween Pak­istan and Rus­sia were grow­ing sat­is­fac­to­rily at govern­ment level and huge in­vest­ment of two bil­lion dol­lars was in­dica­tive of the co­op­er­a­tion.

How­ever, the trade vol­ume was still far less than the po­ten­tial­i­ties of the two coun­tries and busi­ness com­mu­ni­ties of the two coun­tries should take nec­es­sary mea­sures to ex­ploit this avail­able po­ten­tial. He said that Rus­sia launched a num­ber of en­ergy projects while an agree­ment was also signed to lay gas pipe­line from Karachi to La­hore. He said that a min­is­te­rial level meet­ing would be held in Is­lam­abad in Novem­ber and De­cem­ber to re­move the bot­tle­necks ham­per­ing our bi­lat­eral trade. He said that many Rus­sian com­pa­nies were al­ready work­ing in Pak­istan

while more were will­ing to in­vest in Pak­istan as the sit­u­a­tion in this coun­try was im­prov­ing con­sid­er­ably. He said that Rus­sia was im­port­ing wheat and kin­now from Pak­istan and more com­modi­ties could also be im­ported, pro­vided the roads pass­ing through Afghanistan were made safe and se­cure. Re­gard­ing pos­si­bil­i­ties of MOUs, Pref­er­en­tial Trade Agree­ments (PTA) and Free Trade Agree­ments (FTA), Mr Alexey said that in this con­nec­tion ne­go­ti­a­tions at the of­fi­cial level were re­quired.

How­ever, as re­gards co­op­er­a­tion be­tween the pri­vate sec­tors of the two coun­tries, it needs re­li­able and cred­i­ble bank­ing sys­tem. He said the govern­ment of Pak­istan was ready to open a branch of Na­tional Bank of Pak­istan in Moscow which would have salu­tary im­pact on the pro­mo­tion of bi­lat­eral trade be­tween the two coun­tries. Re­gard­ing sanc­tions clamped on Turkey by Rus­sia, he said that it pro­vided a unique op­por­tu­nity to Pak­istani ex­porters to fill up this gap by mak­ing ar­range­ments with their Rus­sian coun­ter­parts par­tic­u­larly for the ex­port of tex­tile prod­ucts. The Rus­sian Am­bas­sador as­sured co­op­er­a­tion for the ex­change of trade del­e­ga­tions and or­ga­ni­za­tion of ex­hi­bi­tions in both coun­tries.

Ear­lier, in his ad­dress of wel­come Chaudhry Muham­mad Nawaz Pres­i­dent Faisal­abad Cham­ber of Com­merce and In­dus­try (FCCI) said that there were more than 5000 mem­bers within the fold of this cham­ber.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.