In a major development, Pakistan and Russia are going to start a new economic corporation in essential sectors of the economy that include IT, agriculture, power, petroleum, railways, water, and commerce under a new regional and strategic partnership.
In this regard, both countries sign an agreement today (Friday) in Russia.
“Both countries are likely to allow direct flights to each country via Dubai and to this effect, reasonable advancement has already taken place between the Russian Federal Air Transport Agency and the Pakistan Civil Aviation Agency. Russia has also shown keen interest to extend its expertise and investment to make modern locomotives for Pakistan railways,” the report stated.
During the three-day summit, Russia and Pakistan discussed ways to boost bilateral trade up to 2020 potential. In comparison to the past year, the Russian-Pakistani trade turnover increased by 45.8% to $789.8 million.
The Inter-Governmental Commission (IGC) on Trade, Economic, Scientific, and Technical Cooperation is presently holding talks between Pakistan and Russia.
Umar Ayub, Pakistan’s Federal Minister for External Affairs is leading the Pakistani delegation in Russia. A 16-member team from diverse sectors of the economy is also in Russia to undertake business-to-business discussions with Russian entrepreneurs.
According to the publication, Russia has also shown interest in the supply of assembled vehicles for state and private customers and the implementation of the vehicle assembly project (SKD kits) in Pakistan.
