Jam Kamal Holds High-Level Talks With Russian Deputy Trade Minister to Boost Bilateral Trade
Islamabad : Federal Minister for Commerce, Jam Kamal Khan, welcomed Mr. Alexey Gruzdev, the Deputy Minister of Industry and Trade of the Russian Federation, for a meeting aimed at enhancing trade relations between Pakistan and Russia.
Held at the Ministry of Commerce, the discussions focused on strengthening economic cooperation and exploring new trade opportunities between the two countries.
During the meeting, Jam Kamal Khan highlighted the significant untapped potential in Pakistan-Russia trade. He emphasized that with active and consistent engagement, the trade volume could be significantly increased.
The upcoming 5th Joint Working Group (JWG) meeting, scheduled for September 26-27, 2024, in Islamabad, was also discussed. The agenda includes discussions on industrial cooperation, customs, investments, transport and logistics, and agricultural trade.
The Russian Deputy Minister expressed his satisfaction with the current state of trade relations but agreed that there is vast room for improvement. He outlined areas for future cooperation, including the supply of mineral fertilizers, modernization of Pakistan’s fertilizer plants, export of agricultural machinery, supply of railway machinery, collaboration in the pharmaceutical industry, supply of metal products, and cooperation in digital technologies.
Mr. Gruzdev emphasized Russia’s willingness to offer expertise in modernizing Pakistan’s fertilizer plants and to provide training programs for Pakistani farmers to enhance agricultural productivity.
He also highlighted Russia’s interest in expanding exports of agricultural and railway machinery, as well as metal products, to Pakistan.
In conclusion, both ministers acknowledged the strong potential for growth in areas such as agriculture, pharmaceuticals, livestock, and steel, and expressed optimism about the future of Pakistan-Russia economic relations.