Staff Reporter
Islamabad
Federal Minister for Economic Affairs Hammad Azhar on Wednesday said that Russian involvement in development projects will be mutually beneficial for both Russia and Pakistan.
Addressing a press conference alongside Russian Trade Minister Denis Valentinovich in Islamabad, Azhar specifically highlighted cooperation in the railway sector.
“Russia is exporting [railways] equipment to European countries. On the other hand, Pakistan’s workshops are obsolete and desperately need to be upgraded. “Pakistan can derive enormous benefits by entering into a partnership with our Russian counterparts,” he said.
“There are lessons that can be learnt, technology that can be transferred. We can enhance our locomotive and carriage productions. All of this can be made possible by entering into a partnership with Russia. We look forward to that,” Azhar added.
“We [the government] believe when it comes to new [power] projects and upgrading existing projects, Russia has an understanding of our energy needs and of the terrain,” the minister said.
The sixth meeting of Pakistan-Russia Inter-governmental Commission on Trade, Economic, Scientific Technical Cooperation was held at the Foreign Offic. During the meeting, the federal economic minister informed the Russian delegation of Pakistan’s recent economic developments and highlighted the country’s improved economic indicators, according to a press release.
Both the sides exchanged views on future cooperation in multiple sectors, especially energy, trade, transport, railways, agriculture and science and technology. Removing a temporary ban on Pakistan’s agricultural exports, including rice and potatoes, was also discussed. In addition, both sides agreed to increase bilateral trade through greater cooperation and enhance business activities. Denis Valentinovich said Moscow is willing to expand cooperation with Pakistan on multiple fronts, including the industrial sector, agriculture, energy, medicine and railways.
Valentinovich recalled that Pakistan Steel Mills was established with the cooperation of Russian experts. He said that Russia is willing to help Pakistan again in order to revive the steel mills and improve its productivity. The Russian minister also expressed interest in “building geological capacity of Pakistan apart from building North South Gas Pipeline”. Furthermore, he said that Moscow wants to cooperate with Islamabad in aircraft manufacturing sector. Meanwhile, Minister of Industry and Trade of Russian Federation, Denis Valentinovich Manturov called on Chief of Army Staff General Qamar Javed Bajwa at General Headquarters in Rawalpindi, said Inter-Services Public Relations.
The matters of mutual interest, regional situation and other issues were came under discussion in the meeting. Both the leaders reiterated the desire to further enhance bilateral relations for peace, stability and economic prosperity of the region, read the statement.
