Russia offers Pakistan to increase the power generation capacity of its mega-power plants like Muzaffargarh Thermal-Power Station, to invest in public transport, manufacturing of legal fertilisers and other projects because Russia considers Pakistan an important country of the region as it has great economic potential and wants to increase bilateral trade and co-operation with Pakistan in diversified areas of economic activity.
This was stated by Yury M Kozlov, trade representative of Russian Federation in Pakistan while addressing the business community at Multan Chamber of Commerce and Industry (MCCI) here on Tuesday. "Strong bilateral trade and larger co-operation between Pakistan and Russia would bring prosperity and integrity to the region," he said. He said Russia saw Pakistan as a significant market and many Russian investors are taking interest in exploring Pakistan for joint ventures and investment. He said previously Russia participated in some big projects in Pakistan including Pakistan Steel Mills and now there is a renewed interest to enhance trade and economic ties with Pakistan in multiple areas.
Kozlov said negotiations are in process with Pakistan for energy projects and co-operation in science and technology. He said a Russian company has already offered $1 billion financial and technical assistance for rehabilitation and up-gradation of Pakistan Steel Mills. "Russia is also ready to implement 500-600MW coal-fired thermal-power projects near Muzaffargarh and Jamshoro and also to modernise and convert some other power projects in Pakistan to coal," the Russian trade representative said.
He also briefed the local businessmen about the upcoming trade exhibitions in Russia and invited them to participate in these exhibitions for exploring new areas of business co-operation. MCCI President Khawaja Usman said Pakistan is now focusing on Central Asia for trade and exports and developing strong economic relations with Russia is vital for tapping huge markets of this region. He said Pakistan is occupying a key economic location in the region and Russia should provide support to Pakistan to get the membership of Shanghai Co-operation Organisation.
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