ISLAMABAD: Federal Minister for Commerce Jam Kamal Khan and visiting Deputy Minister for Industry and Trade of the Russian Federation Alexey Gruzdev, on Wednesday, discussed various issues related to bilateral trade of both countries.

The focus of the meeting was strengthening economic cooperation and exploring new trade opportunities between the two countries.

During the meeting, Khan highlighted the significant untapped potential in Pakistan-Russia trade. He emphasised that with active and consistent engagement, the trade volume could be significantly increased.

The upcoming 5th Joint Working Group (JWG) meeting, scheduled for September 26-27, 2024, in Islamabad, was also discussed.

The agenda includes discussions on industrial cooperation, customs, investments, transport and logistics, and agricultural trade.

The Russian deputy minister expressed his satisfaction with the current state of trade relations but agreed that there is vast room for improvement.

He outlined areas for future cooperation, including the supply of mineral fertilisers, modernisation of Pakistan’s fertiliser plants, export of agricultural machinery, supply of railway machinery, collaboration in the pharmaceutical industry, supply of metal products, and cooperation in digital technologies.

Gruzdev emphasised Russia’s willingness to offer expertise in modernising Pakistan’s fertiliser plants and to provide training programmes for Pakistani farmers to enhance agricultural productivity.

Copyright Business Recorder, 2024