Pakistan, Russia sign barter trade deal

Pakistan and Russia have signed a first ever agreement on barter trade between the two countries, as a delegation of over 60 Pakistani companies participated in an inaugural Pakistan-Russia trade and investment forum in Moscow.

The development took place in the first-ever Pakistan-Russia Trade and Investment Forum held in Moscow.

In his remarks, Minister for Privatization Abdul Aleem Khan expressed the confidence that this forum marks the start of new bilateral relations between the two countries.

He said Pakistan-Russia have longstanding diplomatic and commercial relations. He said Pakistan attaches great importance to its relations with Russia, emphasizing both sides have a great scope of joint ventures in different fields.

He said Pakistan constitutes the fifth largest market in the world and it has the most liberal trade and investment regime in the region. He said foreign investment in Pakistan is fully protected. All our economic sectors are open for investment.

In his remarks on the occasion, Pakistan’s ambassador to Russia Muhammad Khalid Jamali expressed satisfaction that bilateral trade between Pakistan and Russia has crossed the one billion dollars threshold, saying this reflects the growing interest of both countries to enhance their economic and trade relations.

The ambassador said Pakistan views Russia as an important and reliable trade partner. He said Pakistan looks forward to working with Russia to enhance economic relations.