Pakistan, Russia bilateral trade volume reach over $1,000m last year: Aleem Khan

Federal Minister for Investment Board Abdul Aleem Khan has said that Pakistan wants investment from abroad and increase in bilateral trade activities.

“Pakistan and Russia had trade worth more than $1000 million last year.” the federal minister told the inaugural session of Pakistan Russia Trade and Investment Forum.

He said that Pakistan exports leather, potatoes, textiles, fabrics, fruits and rice to Russia. Surgical and medical instruments, cutlery, ready-made garments and other products are also exported to Russia, he added.

Aleem said that Islamabad imports crude oil, mineral coal, frozen vegetables, synthetic rubber and other goods from Moscow.

He said that for Russia, there is a market for industrial machinery, high-tech equipment, tractors and agricultural equipment in Pakistan.

Pakistan and Russia have long-standing diplomatic, commercial and mutual relations, he said and added that both the countries have a large scope for joint business activities and joint ventures.

Under the transportation agreement, Pakistan and Russia can trade through land connectivity.  We have to significantly increase mutual trade according to our population and market size, Aleem concluded.