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Construction of floating LNG terminal: Russia wants to boost trade ties with Pakistan

Construction of floating LNG terminal: Russia wants to boost trade ties with Pakistan

KARACHI: Head of Russian Trade Representative Yury Kozlov has stressed the need to focus on exploring ways and means of how to promote investment cooperation between Pakistan and Russia which would surely help strengthen mutually beneficial trade and economic relations between the two countries.

Speaking at a meeting during his visit to the Karachi Chamber of Commerce and Industry (KCCI), Head of Russian Trade Representative added that Russia considers Pakistan an important country of the region as it has great economic potential and wants to increase bilateral trade and cooperation with Pakistan in diversified areas of the economy. He asked KCCI to give proposals on strengthening bilateral trade, investment, economic cooperation and people to people contacts between the Russian Federation and Pakistan.

Referring to Third Session of the Russia-Pakistan Inter-governmental Commission of Trade, Economic, Scientific and Technical Cooperation held last month, he said that Russia was very keen to enhance trade and business ties with Pakistan.

He informed that Russian companies have also expressed interest in construction of the North-South gas pipeline in Pakistan and construction of floating LNG terminal at Port Qasim in Karachi.

He pointed out that Russia had helped Pakistan promote various industrial sectors like the steel mill at Karachi, Guddu thermal power station, Jamshoro power station and thermal power station at Muzaffargarh.

Earlier, President KCCI Iftikhar Ahmed Vohra stated that Pakistan and Russian must focus on exploring opportunities of enhancing the existing low trade volume between the two countries. He was of the view that cooperation between Pakistan and Russia would bring prosperity to the entire South Asian region.