Marking a significant milestone in boosting bilateral trade relations, Pakistan and Russia have signed the first-ever Memorandum of Understanding (MoU) on barter trade between the two countries.Â
According to a press release issued by Pakistan’s embassy in Moscow, the Russian company LLC “Astarta Agrotrading” and Pakistani firms Meskay & Femtee Trading Company and National Fruit Processing Factory signed agreements to exchange goods, including chickpeas, rice, mandarins, potatoes, and red lentils.
The Pakistan-Russia Trade and Investment Forum was held in Moscow on Tuesday, becoming a landmark event in bilateral trade relations between Pakistan and Russia.
Led by the Federal Minister for Privatization, Board of Investment and Communication, Mr Abdul Aleem Khan, a delegation of 60 Pakistani companies participated in the forum, seeking to strengthen economic ties and explore new business opportunities.
The forum was inaugurated by the Ambassador of Pakistan to Russia, HE Mr Muhammad Khalid Jamali, and high-level officials from the Russian government, such as Mr. Alexey Gruzdev, Deputy Minister of Industry and Trade of the Russian Federation, and Mr. Evgeny Fidchuk, Advisor to the Minister of Transport of the Russian Federation.
Over 60 Pakistani companies, showcasing a diverse range of Pakistani products and services, including textiles, leather, sports goods, pharmaceuticals, food, agricultural products, logistics, and tourism, with a combined export value of over 500 million USD, participated in the event.
On the Russian side, more than 60 officials from various government departments, including the Ministry of Industry and Trade, Ministry of Agriculture, Ministry of Economic Development, and FSVPS (NPPO), along with representatives from the Russian Export Centre, Federal Chamber, Moscow Chamber, regional chambers, and leading associations, attended the forum. Additionally, Russian banks such as MKB were present to explore potential collaborations.
The inaugural Pakistan-Russia Trade and Investment Forum marks an important moment in the economic relationship between the two countries.
