Russians are reportedly engaged with the Special Investment Facilitation Council (SIFC) to explore economic cooperation with Islamabad.
BR reported, quoting sources, that key areas under discussion include banking sector cooperation to facilitate mutual settlements, the creation of correspondent accounts and bank branches, and connecting Pakistani banks to the Financial Messaging System of the Bank of Russia (SPFS).
Both sides are also interested in investment and barter trade, exchanging lists of free trade zones. They are discussing the rules of barter trade and potential agreements involving Pakistan, Iran, and Afghanistan. A list of Pakistani companies interested in barter deals with Russian firms is also under review.
Discussions on transport cooperation include cargo transportation through the port of Karachi and the development of the “Quetta-Taftan” railway section within the “North-South” International Transport Corridor.Â
The possibility of Russian ships accessing Gwadar port and establishing direct flights between Russia and Pakistan is also being considered.
As per the news report, a comprehensive plan for developing Pakistan’s gas industry and modernizing energy-generating capacities is on the agenda. This includes potential Russian participation and discussions on the Iran-Pakistan gas pipeline and possible swap gas supplies from Russia.
Industrial cooperation is another focus, with Pakistani interest in Russian involvement in modernizing transport infrastructure and creating new enterprises.Â
Regarding fertilisers, discussions have covered Pakistan’s needs, types, and quantities required. There is also consideration of expanding mutual trade in medicines, medical devices, and agricultural products, as well as investment projects in Pakistan’s agro-industrial sector, including a bilateral agreement on pesticides and corporate farming programs.
