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Pakistan, Russia agree to improve trade volume

ISLAMABAD-Pakistan and Russia on Thursday reaffirmed their commitment to fostering stronger cooperation with the aim of increasing the volume of bilateral trade.
Russian Ambassador to Pakistan, Danila V. Ganich called on the Minister of Commerce Dr. Gohar Ejaz at the Commerce Ministry. The meeting centered on discussions surrounding the enhancement of bilateral trade relations between the two nations. During the session, both sides reaffirmed their commitment to fostering stronger cooperation with the aim of increasing the volume of bilateral trade. This commitment reflects the shared interest in fortifying the enduring friendship and economic partnership between Pakistan and Russia.
As of the fiscal year 2022-23, the total trade between Pakistan and Russia amounted to $920 million. Pakistan’s exports to Russia during this period totaled $74 million, while imports from Russia reached $846 million. Pakistan’s exports to Russia encompass a diverse range of products, including citrus fruit, leather apparel, ready-made garments, potatoes, home textiles, woven cotton fabrics, surgical and medical apparatus, woven fabric of synthetic staple fiber, and salt, among others. Whereas, key imports from Russia to Pakistan consist of wheat and meslin, dried leguminous vegetables, bituminous coal, and similar solid fuels manufactured from coal. The commerce minister welcomed the positive developments in bilateral trade and reaffirmed Pakistan’s commitment to facilitate an environment conducive to robust economic cooperation. The meeting marks another step towards realizing the full potential of trade ties between Pakistan and Russia. Dr Gohar Ejaz expressed optimism for the future, stating, “Our discussions have set the stage for a brighter economic partnership with Russia. We look forward to expanding trade, opening up new avenues for cooperation, and further strengthening the longstanding bonds of friendship between our two countries.”

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