Russia, Pakistan need more practical steps to enhance bilateral trade: President FPCCI



ISLAMABAD, JUL 28 –  The bilateral trade of Russia and Pakistan needs more practical steps as there is huge potential for investment and economic cooperation in Pakistan’s energy sector, steel production, telecommunication, oil and gas. This was stated by Mian Anjum Nisar, President FPCCI in the first virtual meeting of Pakistan – Russia Business Council (PRBC) of FPCCI attended by newly elected Chairman Zakir Jaffer and Past Chairman Mohsin Sheikh and the members of PRBC.

While talking to the members of Pak-Russia Business Council, Mian Anjum Nisar said that there is a need to revitalize the activities of both countries’ friendship for bringing Pakistani and Russian people closer through exchange of trade delegations. A coherent strategy should be adapted for enhancing people-to-people contacts in various fields of business and commerce, social and culture etc. He further said that the matter of long pending outstanding amount has also been resolved with the efforts of FPCCI. He expressed his hope that PRBC will work for promotion of Pak – Russia bilateral trade and economic relations.

On this occasion the immediate past chairman of PRBC Mohsin Sheikh shared brief performance report of his one year tenure and said that the matters visa on reciprocal basis, both side banking facilities, FTA with Russia and Eurasian Economic Union, establishment of Pak-Russia Joint Chamber of Commerce,  establishment of warehouses etc are the main issues which has already been under discussion between the authorities of both countries. He further said that PRBC under the Chairmanship of Zakir Jaffer will pursue these matter in the concerned quarters for the promotion of bilateral trade relations with Russia.

Zakir Jaffer, Chairman PRBC assured his full contribution to enhance and strengthen Pak-Russia bilateral relations on the line of previous team of PRBC. During meeting he presented a comparative study of Pak-Russia Bilateral trade and economic relations and said that PRBC will focus on ways and means to utilize for smooth bilateral trade with Russia such as opening of commercial banks and corresponding banks in both countries to provide level playing field to the business communities of both countries.