Ambassador of Russia to Pakistan Alexey Yurievich Dedov has said that Russia has invited Pakistani businessmen to explore huge untapped Russian market and strengthen bilateral trade between two countries. Addressing the executive committee of MCCI here on Wednesday chaired by MCCI President Khawaja Jalaluddin Roomi, Alexey Yurievich Dedov said both countries should take sector-specific measures to enhance mutual trade that did not reflect existing potential.
The Russian Ambassador expressed the optimism that both Pakistan and Russian businessmen could enter into joint ventures to benefit each other in their respective businesses and could take to level of bilateral trade to new heights with a little sector specific effort.
Alexey Yurievich Dedov said Russia had a lot to offer to Pakistani business community, while Pakistani businessmen could learn a lot from Russians for the technological upgradation of their industrial units.
Dedov has appreciated ongoing military operation "Zarb-e-Azb" against terrorists and expressed the hope that it would bring economic prosperity in Pakistan.
The Russian Ambassador said potential investors from Russia were showing interest for making investment in Pakistan, adding both the countries should have to increase confidence between its people, businessmen and even governments.
He said still Russia wanted to launch projects in Pakistan and both the countries should work over removing hurdles in that connection. He stressed the need for increasing bilateral trade between Russia and Pakistan.
"The prevailing volume trade between the two countries is very low and it should be increased to a satisfactory level," observed Russian envoy.
He agreed with the demand of President MCCI Jalaluddin Roomi about increasing exchange of delegations of businessmen from both the countries so that people to people contact improved as a result of which businessmen of both the countries would get awareness about investment opportunities.
In his welcome address, MCCI President said both the countries needed to warm up their relations for mutual benefit of people and play an overwhelming role in international arena on a sustainable basis. "Though bilateral trade between the two countries was increasing gradually but it was not satisfactory and there was a lot of scope to enhance mutual trade volume," he maintained.
Roomi said it was very unfortunate that bilateral trade between Pakistan and Russia stood at dollar 419.34 million in 2013-14 as against dollar 484.47 million in the previous year, reflecting a decline of dollar 65.13 million. "The decline is mainly due to fall of Pakistan exports to Russia which fell by 10.36 percent during the period under review," he added.
He said Russian Federation was a market of great importance for Pakistan with massive population together with neighbouring countries.
He said Pakistan could export textile, garments, rice, leather, sports goods, surgical equipments and pharmaceutical to the Russian market, while Russia could enhance export of power equipment, steel, urea, chemicals etc to Pakistan.
He said oil and gas sector in Pakistan offered great opportunities to Russia which had the requisite experience and technology in this field. "Russia could evaluate possibilities of collaboration with Pakistan for mining of marble and granite as well."
Roomi said private sector of Pakistan could definitely take the lead in exporting various types of consumer goods to Russia and in return Pakistan could supply all types of textile goods, leather & leather products, surgical goods, sports goods, agro-based products & food items, fresh fruits & vegetables, fish & fish preparations, carpets & rugs, pharmaceutical products etc.
He said Russia could also help in introducing Pakistani products in the areas of its influence.
He suggested that brighter chances for joint ventures in sectors like food processing, oil, gas & mineral exploration, energy, engineering (heavy & light), transport equipments, automobiles, tractors, harvesters, machine tools, cement, fertilisers, industrial chemicals, plastic & rubber products, home appliances etc where Russia was at advance stage of development.
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