Pakistan is committed to establishing an environment conducive to sustainable economic cooperation with Russia, as stated by Gohar Ejaz, Minister of Commerce in Pakistan's interim government, during a meeting with Russian Ambassador Danila Ganich.
"We welcome the positive developments in Pakistan-Russia trade and are committed to fostering a sustainable and more robust partnership with Russia. Pakistan is eager to enhance trade, explore new avenues for collaboration, and further fortify the enduring bonds of friendship between our two nations," the minister stated, as reported by the Dawn newspaper.
During the meeting, both sides reiterated their commitment to enhancing cooperation for the purpose of boosting bilateral trade, underlining their mutual interest in further solidifying the robust friendship and economic partnership between the two nations, as reported by the newspaper.
According to Pakistan's Ministry of Commerce, the total bilateral trade with Russia for the completed fiscal year 2022-2023 amounted to $920 million. Pakistan's exports to Russia reached $74 million, while imports accounted for $846 million. Pakistan's exports to Russia comprise items such as citrus fruits, garments, textiles, medical equipment, and other goods. The principal imports from Russia to Pakistan include wheat, pulses, and various types of fuels.
In April 2023, Pakistan initiated an order to import 100,000 tons of Russian crude oil, referring to the shipment as a trial intended to evaluate the companies' capacity to refine Russian oil. Subsequently, in June, two tankers delivered a combined total of 101,000 tons of Russian oil to the port of Karachi. Later, in late September, Russia carried out the first shipment of liquefied petroleum gas to Pakistan via land transport.
Pakistan is currently contemplating the possibility of entering a long-term agreement for the purchase of 0.7 million to 1 million tons of Russian oil annually.
GSV "Russia - Islamic World"
Photo: Federation Council
Based on materials from TASS