Russia expresses desire to enhance economic ties with Pakistan

Russia expresses desire to enhance economic ties with Pakistan

ISLAMABAD - Russian Federation on Wednesday invited the Pakistani businessmen to participate the world biggest Expo 2025 to held in Ekaterinburg city of Russia as about 140 countries are likely to participate the mega event.

A delegation of Russian Federation led by Deputy Governor of the Sverdlovsk Region Alexander G. Visokinskiy, visited Islamabad Chamber of Commerce and Industry and invited Pakistani business community to participate in the Expo 2025.

Ekaterinburg is the geographical center of the Russian Federation and the Capital of the Urals, one of the largest commercial, scientific and industrial cosmopolitan centers, said a press release.

Ekateringburg has well developed infrastructure, modern transport system, technoparks and other facilities.

Speaking on the occasion, Alexander G. Visokinskiy said that Russia never hosted an Expo before and for the first time, it was going to organize World Expo 2025 designed as a Smart City that would live on after the event.

He said more than 140 countries will participate in the Expo that would be the largest international event covering an area of 555 hectares and provide a good platform for demonstration of technical, technological, industrial, cultural and social achievements.

He said the Expo would provide Pakistani business community a good opportunity to demonstrate their good quality products and enhance their business prospect. They would also be able to hold business negotiations and strengthen cooperation with international participants.

Speaking on the occasion, Sheikh Amir Waheed, President ICCI said that Pakistan and Russia enjoyed good relations, but given the size of the economies of both countries, their bilateral trade of less than $500 million was not encouraging.

He said both countries were doing trade in limited items and they should focus on diversification of trade to achieve mutually beneficial results. He said Russia has good expertise in energy, engineering and other sectors and it could help Pakistan in many fields of economy.

He said both countries have also good potential to develop strong defense cooperation. He said Pakistan could provide Russia better market access to South Asia, Middle East, Africa and other countries.

Similarly, Pakistan could achieve better market access to Central Asia through Russia. Thus their close cooperation would be mutually benefit for them.

He said CPEC has created great prospects for business and investment in Pakistan and Russian investors should visit Pakistan to explore joint ventures and investment in CPEC. They could invest in Pakistan’s oil and gas, minerals and other sectors as well.

He said both countries should encourage frequent exchange of trade delegations and organize exhibitions on reciprocal basis that would help in further improving bilateral trade and economic relations. - APP

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