Russian container ship arrives at Karachi port

KARACHI: Russian container ship Crystal Saint Petersburg arrived at Karachi port for the first time, ARY News reported.

As per details, Federal Minister for Maritime Affairs Faisal Subzwari, Chairman Karachi Port Trust (KPT) Raza Zaidi and Consul General Andrey Viktorovich Fedorov welcomed the ship which arrived from Russia to Pakistan in 21 days.

Minister for Maritime Affairs Faisal Subzwari said declared it a landmark success of the government saying that it provide Pakistan to trade directly in Russian Markets.

He said that direct shipping between Russia and Pakistan will increase Pakistan’s exports. It is important for Russia as well who will get access to central Asian countries and increase their trade.

Earlier today it was reported that a direct shipping service will be launched between Pakistan and Russia first time signaling a shift in bilateral trade between the two countries.

Experts said that the launch of shipping service will reshape trade relations between both countries, with immense business opportunities and the potential to extend bilateral trade up to US$20 billion.

The direct cargo service will drastically reduce shipping time from a month to 18 days. The first vessel will arrive at Karachi today, while second direct ship is expected to arrive at the port by May 29.

Currently, Pakistan’s exports to Russia stand at USD$150 million, while imports hover around USD$300 million. However, the implementation of this direct shipping service is anticipated to boost Pakistani exports to Russia by USD$2.5 billion in the coming years.