Key Takeaways:
– Pakistan emphasizes overcoming financial and banking challenges to enhance barter trade with Russia.
– Historical trade relations highlighted, with a focus on machinery and textile exchanges.
– Recent energy cooperation praised and future bilateral ties discussed.
Prime Minister Shehbaz Sharif, in a meeting with Russian President Vladimir Putin on Wednesday, underscored the importance of addressing financial and banking hurdles to expand barter trade between Pakistan and Russia. The discussion took place in Astana, Kazakhstan, on the sidelines of the Shanghai Cooperation Organisation (SCO) summit, as highlighted in a press release issued today.
During the meeting, Sharif reminisced about Pakistan’s longstanding commercial relationship with Russia, dating back to the era of Soviet Russia. He recalled how Pakistan used to import a significant amount of machinery and other goods from the Soviet Union and, in return, exported textiles and leather products under barter trade agreements.
Sharif noted that there is significant potential to enhance the current trade volume, which presently stands at around $1 billion. “We have a strong foundation for trade, and there is ample room for growth,” Sharif stated, emphasizing the historical ties and mutual benefits of expanding trade.
The Prime Minister also lauded President Putin for his efforts in promoting energy cooperation. He mentioned that Pakistan has recently received an oil shipment from Russia, marking a positive step in their energy collaboration. “This initial shipment is a promising start, and we need to build on this momentum,” Sharif commented, highlighting the potential for further development in the energy sector.
Discussing the broader context of bilateral relations, Sharif expressed satisfaction with the positive trajectory of Pakistan-Russia ties over the years. He emphasized that their relationship is independent and strong, not influenced by geopolitical factors or relations with other nations. “Our ties stand on their own merit and strength, unaffected by external pressures,” Sharif affirmed.
The Prime Minister also expressed a keen interest in working closely with President Putin to further strengthen bilateral relations. He conveyed his desire for continued cooperation and partnership in various sectors, aiming to build a robust and mutually beneficial relationship.
In summary, the meeting between Prime Minister Shehbaz Sharif and President Vladimir Putin highlighted the historical and potential future trade relations between Pakistan and Russia. By addressing financial and banking challenges, both countries aim to revitalize barter trade, enhance cooperation in energy, and strengthen overall bilateral ties.
Source: https://mettisglobal.news/pakistan-seeks-barter-trade-revival-with-russia/
