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Russia interested in boosting Pakistani businesses

Largest-ever cooperation deal between Russia and Pakistan! Includes huge investments in energy, rail and steel industries.

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Russia will help boost Pakistan’s economy by cooperating in various fields including aircraft manufacturing, state media said Wednesday.

Visiting Russian Trade Minister Denis Valentinovich told reporters in the capital Islamabad that his country was looking forward for joint collaborations, Radio Pakistan reported.

“We will extend cooperation to Pakistan to revive the Steel Mills and enhance its productivity,” the Russian minister said.

Pakistan Steel Mills, a mega industrial complex having the production capacity of over one million tons of steel and iron foundries, was built with contribution of the Soviet Union in 1973.

He said that his country also wants to cooperate with Pakistan in the aircraft manufacturing sector.

Read more: Russian eagles venture into Iran and Pakistan, nearly bankrupting scientists

Pakistan’s Economy Minister Hammad Azhar also addressing reporters welcomed the offer, stating there is huge scope of cooperation between the two countries in the energy sector.

“There are tremendous opportunities to enhance cooperation in the fields of trade, business to business relations and people to people contacts,” Azhar said.

He added that his country desires to transform relations with Russia into a strategic partnership.

The Russian side invited Pakistan to organize a road show in Moscow to provide an opportunity to the Russian private companies to explore new avenues in Pakistan

Earlier during a delegation-level meeting in the Foreign Ministry, both countries agreed to increase volume of bilateral trade from the present levels to its true potential through greater cooperation and enhanced business activities by the private sector of both the countries.

The Russian side invited Pakistan to organize a road show in Moscow to provide an opportunity to the Russian private companies to explore new avenues in Pakistan.

Read more: Pakistan Pays Russia $93.5 Million Settling Decades Old Dispute

Pakistan, on the other hand, urged Russia to attend trade fairs in the country.

A Russian business delegation is also present in Pakistan holding meetings with Pakistani business people to explore opportunities.

Anadolu with additional input by GVS News Desk.

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