Trade turnover between Russia and Pakistan demonstrated a positive growth in 2012, with an amount of $542 million, including $210 million export and $332 million import. This was stated by Alexey Strekalov, Deputy Trade Representative of Russian Federation, while addressing a press conference at Karachi Press Club here on Thursday regarding the 65th anniversary of establishing diplomatic relations between Russian and Pakistan.
Quoting official sources, he said that ferrous materials and products remained the major Russian exports to Pakistan with an amount $124.5 million, while fertilisers' exports remained second with an amount of $53.5 million. Newsprint and paper-board worth $18.1 million were also exported to Pakistan, he added.
Strekalov said that Russian imports from Pakistan included food commodities, such as vegetables, fruits, nuts, rice worth $111.1 million, textile goods ($78.9 million), chemical fiber and filaments ($52.8 million), cotton ($29.5 million), pharmaceutical products ($10.6 million), leather products ($17.3 million), and sporting goods ($4.9 million), he said.
He said that trade between the two countries was encouraging, but the level of mutual trade did not correspond to the real existing potential. "We should sincerely confess that due to the particular well-known reasons there is no real investment co-operation between our countries so far. Both Russian and Pakistani side should make efforts to solve the problems at the earliest," he added.
He further said that to attach more importance to bilateral relations at the government level and with the purpose of giving a new powerful momentum for further development, a new executive body - the Russia-Pakistan intergovernmental Commission (IGC) was created. Two sessions of IGC had been already held while the third session was planned to be held this autumn in Moscow, he added.
He said that an MoU had been signed at a ministerial level meeting for the reconstruction and modernisation of Pakistan Steel Mills Industrial Complex, after which its manufacturing capacity would increase to about 3 million tonnes of steel. He said that other projects which were under way in Pakistan with the Russian help included equipment supply for Kandra gas-burning power plant, modernisation of Multan-2 and Guddu fuel-burning power plants, modernisation of Muzaffargarh fuel-burning power plant and conversion it into a coal power plant, construction of Jamshoro fuel-burning power plant, expansion of 4th stage of Tarbela hydro power plant, reconstruction of Mangla hydro power plant and construction of new power unit of Dasu hydro power plant.
Earlier, speaking on the occasion, Andrey V Demidov, Consul General of Russia, said that "on May 1, 2013, we will celebrate 65th anniversary of diplomatic relations between Russia and Pakistan. It should be remembered that my country, was the first to welcome the independence of Pakistan. It was the Soviet Union that helped Pakistan to become a member of the United Nations," he said.
He said that the history of bilateral political relations between the two countries saw both good and tough times but irrespective of the situation both the countries always felt the necessity to maintain good contacts. "The period of General Zia rule was the most difficult in our relations. But still we maintained exchange of delegations. Pakistani students went to Soviet Union for studies. Pakistani leaders attended functions organised by our Embassy in Islamabad," he maintained.
The CG said that the biggest shift in our relations arrived in 2001 with the launch of the war on terror. The two countries once again found that they had common interests - that is to put an end to terror threats, to eliminate drug threat, and the threat of religious extremism and other evils.
He said that in April 2007, the then Prime Minister of Russia, Mikhail Fradkov, visited Pakistan. He had very fruitful talks on economic issues. "The said meetings laid foundation to the realisation of the regional model for future settlement in Afghanistan. As a result of these talks the relations between Russia and Pakistan became more confidential," he added.
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