ISLAMABAD – Russian envoy has made multi billions dollars development andinfrastructure projects offer in the field of oil, gas and power inPakistan.
Russian trade reoresentative Yuri Kozlov has said that Russia willconstruct $2 billion north and south gas pipeline from Karachi to Lahoreand also engaged in a project at Jamshoro Power Plant for production of600MW.
“Russia had offered assistance in the expansion of Pakistan Steel Millswhile Russia’s Gazprom has also shown interest in financing Iran-Pakistan(IP) gas pipeline project,” he added. While handing over CDs carryingpresentations of 200 Russian companies and details of the exhibitionsscheduled to be staged in Russia throughout the year, he said all theseRussian companies were keen to explore opportunities in Pakistan, whereasthe business and industrial community of Karachi Chamber should look intothe possibility of participating in numerous trade exhibitions in Russia.
He further asked KCCI to send a trade delegation to Russia to enhance theexisting trade and investment cooperation between the two countries. “Weare not much interested in hosting trade delegations from business councilsor forums but would like to see a business delegation from KCCI so that youcould explore trade opportunities and improve ties with Russiancounterparts,” he added.
Earlier, KCCI President Junaid Esmail Makda expressed concerns over nominaltrade volume of around $600 million in 2017 between the two countries, asPakistan exported goods worth $280.69 million while imports increased to$310.94 million during the period.
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Makda said oil and gas sector and heavy industries were the two promisingareas for Russian investors. “Pakistan Steel Mills, which has unfortunatelybecome the dark side of Pakistan’s economy with zero production, can beturned around through Russian assistance,” he added. He said Pakistani foodexporters can capitalise on the ban imposed by the Russian government onagricultural imports from European countries to enhance their exports toRussia. “Pakistan can export livestock, meat, apple, mango, citrus andseafood to Russian markets,” Makda said.
He further stressed the need to sign an MoU between the Karachi Chamber andMoscow Chamber which would improve business linkages, and bring businesscommunities of the countries close to each other.
