KARACHI – Many Russian companies are interestedin joint ventures with Pakistani private sector in potential economic sectorslike textile, agriculture, power, oil, gas, light engineering,aviation, pharmaceutical and chemical besides increasing collaborationbetween academia of the two countries.

Russians wanted to come in, with modern technologies and expertise.Pakistan and Russia have a long history of cooperation ineconomic and social sectors. The dynamics of the world are changing. Russiaand China have emerged as strong strategic partners, and Pakistan hasgained high importance in this scenario, said Chairperson, Sindh Board ofInvestment (SBI), Naheed Memon on Wednesday evening.SBI Chairperson was talking to APP here at the conclusion of two-daymeetings with a 40-member business delegation from Russia representingdifferent industries and academia. The SBI hosted this Sindh-SaintPetersburg Forum 2018.On the second day, memorandum of understanding (MoU) was signed betweenPediatrics Medical University of Saint Petersburg and Dr Ziauddin MedicalUniversity in the presence of Vice Governor of Saint Petersburg , MovchanSergei Nikolaevich and Consul General of Russia to Karachi Dr AleksandrKhozin. Another MoU was inked by NED University and an engineeringuniversity of Saint Petersburg for exchange of information. LightIndustrial Park in Saint Petersburg and Landhi Industrial Park had alreadysinged similar agreement, she said.

Naheed Memon informed that over the two-days , the delegates representingbig Russian companies also held B2B meetings with Pakistani counterparts todiscuss in detail the modalities toincrease bilateral trade and for joint ventures.She said in October 2017, Governments of Sindh and Saint Petersburg hadsinged MoU for increasing collaboration on economic andsocial fronts by declaring Sindh and Saint Petersburg as sister provinces.The visit of Russian delegation was the follow up of thatdevelopment. She said Saint Petersburg was the cultural capital of the world.There was need for exchange of cultural delegations betweenPakistan and Russia especially Saint Petersburg.She said the world was divided into regional blocks like ASEAN and Europe,and this model of economic cooperation had proved very successful. Pakistanwas also aware of the demands of thechanging world and of its important position. Russia was a big power and wecould not neglect it, she said.

It was need of the hours to increase economic and regional cooperationbetween Pakistan and Russia including boost to bilateral trade, sheasserted.“Now, Pakistani businessmen must look outside demand for Pakistan’s textileand agricultural produce,” she remarked.Saint Petersburg’s Vice Governor Movchan Sergei Nikolaevich said Russiawanted to further strengthen friendly relationship withPakistan. For this purpose, he added, his country was actively pursuing forincreased cooperation with Pakistan in different sectors.

He agreed that absence of banking channel between the two countries was oneof the major hurdle to increase bilateral trade. Mocow and Islamabad shouldwork on and solve this issue.Aleksey Popovich, Chief Technology Officer, Hydrolex company dealing inheating systems and heating equipment, expressed hissatisfaction that most of B2B meetings would bear fruit and would led topartnership in different sectors in the future. Both the countrieswould come more closer to each other with the passage of time. He informedthat in September this year, Oil and Gas Forum would be held in SaintPetersburg. Pakistan had assured toparticipate. There was also possibility of signing contract with his companyto supply machinery and equipment to Pakistan.

In Pakistan, there was big demand for Russian machinery. Russia also wantedto make Pakistan as the center of its trade up to Middle East. He notedthat Karachi was very much safe for foreigners as well. During his two-daystay, he along with other Russian visiting friends had visited some areasof the city and found it very peaceful and safe place.

Recalling his recent visit to India, he remarked “I feltunsecure there. But, here I am very comfortable.”Prominent Pakistani businessmen were also present including Dr MirzaIkhtia Baig and Waseem Ahmed Vohra.Dr Mirza Ikhtiar Baig said Federation of PakistanChambers of Commence and Industry had planned to send its delegation toSaint Petersburg in September or October this year. – APP