In a move to enhance bilateral trade, Pakistan and Russia have established their first Memorandum of Understanding (MoU) on barter trade. This agreement involves the exchange of goods such as chickpeas, rice, mandarins, potatoes, and red lentils between the Russian entity LLC "Astarta Agrotrading" and Pakistani companies Meskay & Femtee Trading Company and National Fruit Processing Factory, as stated in a press release by Pakistan's embassy in Moscow.
The Pakistan-Russia Trade and Investment Forum, held in Moscow, served as a platform for this significant development in trade relations. The forum saw participation from a delegation led by Pakistan's Federal Minister for Privatization, Board of Investment and Communication, Mr Abdul Aleem Khan, comprising 60 Pakistani companies. These companies, representing sectors such as textiles, leather, sports goods, pharmaceuticals, food, agriculture, logistics, and tourism, with a cumulative export value exceeding 500 million USD, aimed to fortify economic ties and scout for new business avenues.
The event was inaugurated by the Ambassador of Pakistan to Russia, HE Mr Muhammad Khalid Jamali, alongside notable Russian officials including Mr. Alexey Gruzdev, Deputy Minister of Industry and Trade, and Mr. Evgeny Fidchuk, Advisor to the Minister of Transport. The forum was attended by over 60 officials from Russian government departments, the Russian Export Centre, Federal Chamber, Moscow Chamber, regional chambers, leading associations, and Russian banks like MKB, all looking to explore potential collaborations.
Source: Profit