Preferential Trade Agreement key to boost bilateral trade with Russia: Jawad

ISLAMABAD: Chairman Standing Committee Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Horticulture and Food Exports, Ahmad Jawad has said preferential trade agreement and availability of the banking channels is the key to boost bilateral trade between Russia and Pakistan in the current scenario.

Talking to to Minister Counselor of the Embassy of Russian Federation, Dr Alexander G.Khozin who called on him here on Wednesday, Ahmad Jawad said trade is the ultimate solution to strengthen the relationship between two countries. He said that FPCCI always gave importance to Russia as an important partner and in current scenario without economic activity no economy can survive. The bilateral trade of Russia and Pakistan needs more practical steps to increase as there exists a huge potential.

He said that currently trade stood around $ 500 million which needed to be increased and during ongoing year Pakistan exports to Russia were increased upto 4% with the contribution of agriculture products.

The chairman Standing Committee of FPCCI on Agriculture and Food Exports said that we still feel there is a room of growth is available in the sector of Kinnow (mandarin) and other horticulture products in the wake of Russian Ban towards EU on Food items. Pakistan has the potential to penetrate up to 100,000 tons of mandarin in the upcoming season. In this regard private sector of both countries may interact on priority through the help of Trade Representation of the Russian Federation in Pakistan.

Jawad also invited that the delegation of Russian Chambers of Commerce should visit Pakistan and strengthen the b2b interaction with FPCCI and have signed an agreement to broaden and deepen economic ties and identify areas of cooperation in trade and investment, so that private sector of both countries will be on one page. As without indulging the private sector we cannot get optimum results.

Alexander Khozin appreciated the role of FPCCI and said Federation of Pakistan Chambers of Commerce can play pivot role to enhance bilateral trade. The upcoming inter governmental meeting which will be held at Islamabad in the month of November would be the key forum where core issues will be discussed between two governments. We expect concrete proposals from your side which could facilitate the bilateral trade. Yes it’s true we need to focus the things on mutual interest as Pakistan and Russia are important partners; he added.

Mr. Dmitry A. Vikhlyaev, from the Trade Representation of the Russian Federation also attended the meeting.

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