KARACHI – Many Russian companies are interested in joint ventures withPakistani private sector in potential economic sectors like textile,agriculture, power, oil, gas, light engineering, aviation, pharmaceuticaland chemical besides increasing collaboration between academia of the twocountries.

Russians wanted to come in, with modern technologies and expertise.Pakistan and link>link>Russialink>have a long history of cooperationin economic and social sectors. The dynamics of the world are changing.

link>link>Russialink> and China have emerged as strongstrategic partners, and Pakistan has gained high importance in thisscenario, said Chairperson, Sindh Board of Investment (SBI), Naheed Memonon Wednesday evening. SBI Chairperson was talking to APP here at theconclusion of two-day meetings with a 40-member business delegation fromlink>link>Russialink>representing different industriesand academia. The SBI hosted this Sindh-Saint Petersburg 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 oflink>link>Russialink> to Karachi Dr Aleksandr Khozin.Another MoU was inked by NED University and an engineering university ofSaint Petersburg for exchange of information. Light Industrial Park inSaint Petersburg and Landhi Industrial Park had already singed similaragreement, 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 to increase bilateral trade and for jointventures. She said in October 2017, Governments of Sindh and SaintPetersburg had singed 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 that development.

She said Saint Petersburg was the cultural capital of the world. There wasneed for exchange of cultural delegations between Pakistan andlink>link>Russialink> especially Saint Petersburg. Shesaid the world was divided into regional blocks like ASEAN and Europe, andthis model of economic cooperation had proved very successful. Pakistan wasalso aware of the demands of the changing world and of its importantposition. link>link>Russialink> was a big power and we could notneglect it, she said.

It was need of the hours to increase economic and regional cooperationbetween Pakistan and link>link>Russialink> including boost to bilateraltrade, she asserted. “Now, Pakistani businessmen must look outside demandfor Pakistan’s textile and agricultural produce,” she remarked. SaintPetersburg’s Vice Governor Movchan Sergei Nikolaevich saidlink>link>Russialink> wanted to further strengthenfriendly relationship with Pakistan. For this purpose, he added, hiscountry was actively pursuing for increased cooperation with Pakistan indifferent 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 in heating systems and heating equipment,expressed his satisfaction that most of B2B meetings would bear fruit andwould led to partnership in different sectors in the future. Both thecountries would come more closer to each other with the passage of time. Heinformed that in September this year, Oil and Gas Forum would be held inSaint Petersburg. Pakistan had assured to participate. There was alsopossibility of signing contract with his company to supply machinery andequipment to Pakistan.

In Pakistan, there was big demand for Russian machinery.link>link>Russialink> also wanted to make Pakistan asthe center of its trade up to Middle East. He noted that Karachi was verymuch safe for foreigners as well. During his two-day stay, he along withother Russian visiting friends had visited some areas of the city and foundit very peaceful and safe place.

Recalling his recent visit to India, he remarked “I felt unsecure there.But, here I am very comfortable.” Prominent Pakistani businessmen were alsopresent including Dr Mirza Ikhtia Baig and Waseem Ahmed Vohra. Dr MirzaIkhtiar Baig said Federation of Pakistan Chambers of Commence and Industryhad planned to send its delegation to Saint Petersburg in September orOctober this year. – APP