Pakistan has gained direct access to the Russian market, as it has opened maritime trade communication with the Islamic republic. Pakistani Minister for Maritime Affairs Syed Faisal Subzwari said this, speaking at a ceremony marking the arrival of the Russia-flagged container ship "Crystal St. Petersburg" in the port of Karachi on Thursday.
"The arrival of the Russian-flagged container ship in Karachi is a landmark achievement for Pakistan. The country's trading companies now have direct access to the Russian market," Dawn quoted the minister as saying on Friday.
According to Subzwari, the direct export of Pakistani goods to Russia will serve to strengthen business ties between the two countries.
As Dawn notes, the first tanker with Russian oil is scheduled to arrive in Pakistan in early June under the agreement reached between Islamabad and Moscow in April. Supplies of Russian oil to Pakistan are expected to reach 100,000 barrels per day at a discount of $16-18 per barrel. Payments for oil exports from Russia will be made in Chinese yuan.
Islamabad expects that imports from Russia will allow it to meet up to 35% of Pakistan's oil needs in the future.
GSV "Russia - Islamic World"
Photo: Federation Council
Based on materials from TASS