Russia makes $1.7 billion economic offer to Pakistan

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ISLAMABAD: Russian Ambassador Danila V. Ganich on Tuesday said that Russia is eager to invest $1.7 billion in the Karachi-Lahore gas pipeline.

“While the volume of trade has been promising at $500 million, trade cooperation has not corresponded to its potential. The low level of direct commercial ties and insufficient knowledge about each other’s business practices, capabilities and language barriers continue to hamper progress in this much-needed area,” the Ambassador lamented.

He was addressing a seminar titled ‘Conversation with Ambassadors on Pakistan-Russia Relations: Prospects for the Future’ organised by the Centre for Aerospace and Security Studies (CASS).

Detailing his views on the regional situation, Ambassador Ganich said there should not be law of the jungle in the international system.

He said Russia, like Pakistan, does not want an arms race in the region and is against an arms race in outer space as well, adding that both Pakistan and Russia have strong reasons for wanting peace and stability in Afghanistan.

“In this regard, Russia will facilitate any reasonable solution for peace and reconciliation. Unfortunately, prospects for the intra-Afghan dialogue remain bleak for the foreseeable future,” he added.