Volume of bilateral trade between Russia and Pakistan has jumped from $ 400 million to 600 million during last three years; however it could be further enhanced manifold by developing B2B linkages, said Dr Sergei Baranov, Commercial Counselor, Embassy of Russian Federation, Islamabad. Addressing to the office-bearers and members of the All Pakistan Textile Processing Mills Association (APTPMA), he said that bilateral agreement between Russia and Pakistan on Karachi-Lahore LNG pipeline project was signed in October 2015, but work on it could not be started.
Engineer Rizwan Ashraf, Chairman APTPMA lauded the efforts of Russian Government for making best arrangements and hosting FIFA world cup-2018 in Russia. He gave brief introduction of the association and highlighted importance of value-added and export-oriented Textile Processing Industry which is contributing its due share in earnings of foreign exchange.
He said, volume of trade between both the countries is about $ 600 million which could be enhanced through bilateral trade and exchange of delegations. He said that Russia is energy rich country while Pakistan is facing energy crisis which could be reduced through completion of Karachi-Lahore LNG pipeline project.
During question-answer session, Kashif Zia, SVC PHMA said that exporters belonging to PHMA have serious concerns regarding export documentation as Russian Customs procedure is very long and complicated. He demanded to resolve it on top priority basis. In a Joint declaration Chairman APTPMA and Russian Commercial Counselor demanded that Chairman of the Inter Government Commission (IGC) on trade should be appointed immediately by the Government of Pakistan paving way to start work on Lahore-Karachi LNG pipeline project.
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