Karachi, December 12, 2019 (PPI-OT): Engr. Daroo Khan Achakzai President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) hailed the visit of 64 member’s Russian delegation to Pakistan under the leadership of Russian Minister of Industry and Trade Denis Manturov. He indicated that the visit of Russian delegation on the occasion of Inter Government Commission meeting on Trade, Economic, Scientific and Technical Cooperation will open new vistas of bilateral relations between two countries. He also appreciated the effort of Pakistan and Russian government on the settlement of mutual trade dispute of Soviet Union era.
Historically, Russia contributed a lot towards Pakistan’s progress as it built the Pakistan Steel Mills, OGDCL, Guddu and Mazzafargarh power plants, installed a lot of hydel turbines, and repaired the Jamshoro power plant etc. While commenting on the bilateral trade, the President FPCCI added that the present volume of bilateral US$ 732.4 million is not indicating the true reflection of bilateral relations.
He underscored the need of enhancement of bilateral trade and removal of tariff and non-tariff barriers. He said that there is a great scope of Pakistani textile and textile made ups, agro-based products, fruit particularly kinoos and mangoes, food processing and packaging, livestock and dairy farming, leather and leather products, surgical equipments and sports goods etc. in Russian markets which need to exploiting through aggressive marketing and participation of exhibitions in Russia.
He also underlined the need of Russian assistance for the rehabilitation of Pakistan Steel Mills which were established in 1973 with the assistance of Russia. He also emphasized on establishing of banking channels and simplification of visa for the enhancement of commercial activities between both nations. He stated that the Russia is a lucrative market for Pakistan and there is need of joint venture investment in various field particularly in the field of power sector projects, exploration of coal and other mineral resources, hydroelectric power, ship-building, high-tech machinery, infrastructure, transport, iron and steel, railways, construction etc.
For more information, contact:
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
Federation House, Main Clifton, Karachi, Pakistan
Category: General Business News