ISLAMABAD – Pakistan and Russia ink historic agreement opening foot gatesof Russian investment in Pakistan.
Trade has clearly been made a priority by the current government withIslamabad directing their Ambassador to Russia to sign an agreement withMoscow to pay RS 14.42 Billion ($93.5 US Dollars).
The settlement is due to the Russian exporters’ claims pending since thedisintegration of the Soviet Union in 1991.
This clearance would open up the floodgates for potential investments byRussian investors in Pakistan.
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The details of the agreement meant Pakistan would return $93.5 million USDollars to Russia within 90 days of the signing and clear pendingexporters’ claims to the tune of $23.8 million as per settlement agreementsof October 6, 2016 and December 27, 2017.
This agreement although not detrimental will be a much needed gesture ofgood will towards Russia by Pakistan with the two parties not meeting thepotential of their relationship due to the precedents set by the Cold War.
