Russian envoy explains how bilateral trade can expand

Russian Ambassador in Pakistan, Alexey Y Dedov said that the bilateral trade volume between Russia and Pakistan has improved by initiating various projects in the country, which would be further strengthened by mutual economic cooperation and exchanging of business to business delegations in future. He stated this during a meeting at Sarhad Chamber of Commerce and Industry (SCCI) Peshawar on Monday. SCCI President, Zahidullah Shinwari, executive members, businessmen and traders were present on the occasion. Honorary Consul General of Russian Consulate in Peshawar, Arsala Khan also attended the meeting.
Flanked by trade representative, Yury M Kozlov, and officials of the Russian Embassy in Islamabad, Dedov said the Russian companies are taking keen interest to make investment in the Pakistan. He emphasized that the exchange of business delegations vital to further boost economic ties between Russia and Pakistan. He said that Russian companies had initiated different projects, like establishment of Oil Refinery in Kohat area of Khyber Pakhtunkhw, and interventions in energy, mining and information technology and other potential sectors in Pakistan.
He informed that the bilateral trade volume between Pakistan and Russian had increased from $400 million to $541 million over short span of time, which would be further improved. However, he added the establishment of business to business contact is vital in this regard. "We are moving towards greater economic cooperation, which would be long-lasting impacts on economic relations of the two countries," he said. Later, talking to media persons, he expressed optimism for further boosting trade and economic relations between Russia and Pakistan.
He said Russia is ready to revamp the Pakistan Still Mill (PSM), but the government was unclear about its actual plan whether to privatize it or give on lease. Replying to another question, the Russian envoy said the peace and security stability is vital for revival of trade and economic activities in the neighbouring Afghanistan. He said the establishment of favourable environment can only boost the foreign investments in the Afghanistan.
Earlier, SCCI president while addressing on the occasion has invited the Russian companies to make investments in hydropower, installation of oil refineries and other potential sectors in Khyber Pakhtunkhwa. He hoped that the bilateral trade would be enhanced further by exchanging frequent exchange visits of business delegations.
Shinwari said there is great potential for bilateral trade in automobiles, construction agriculture, energy, IT, steel, furniture, household equipment, textiles, meant and dairy sectors in KP. On the occasion, the businessmen have pointed out various issues, which are impeding the bilateral trade and economic relations between the Pakistan and Russia. While the diplomat said that an honorary consulate of Russia has been established in Peshawar, which would take up all issues of the business community for their amicable resolution.