FPCCI is keen to hold a single-country exhibition in Moscow and will send a high-level trade delegation there to provide opportunities to Pakistani exporters to expand the volume of the country’s exports to Russia.
This was stated by Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Zubair Ahmed Malik at a meeting with Trade Representative of the Russian Federation, Yury Kozlov. The Russian representative paid a courtesy call on Ahmed along with his four member team. The FPCCI president said Russia is a great potential market for Pakistani products which needs to be explored sufficiently. Both the sides exchanged views on the bilateral economic relations. They were not satisfied with the present volume of trade which they said does not reflect a true picture of the 50-year friendship between the two countries.
Malik re-affirmed, “Russia will be our potential market during the current year and FPCCI will use all its resources to penetrate the Russian market.”
He emphasised that the national Chambers of both countries should intensify their interaction and activate the Pakistan-Russia Joint Business Council formed by both National Chambers for exploring the market potentials. Malik also suggested Russian Representative to play an instrumental role in organising a Pak-Russia Joint Business Council meeting at the earliest for the private sector of both the countries. He said further that both the business communities could formulate necessary recommendations for the promotion of bilateral trade and the same could be presented in the Joint Ministerial Commission (JMC), he said.
Malik said that the current volume of bilateral trade between the two countries is $542 million which is in favour of Pakistan, but does not match in any way with the potentials of the two countries. Malik also emphasised the need for joint venture investment in various fields, particularly in power sector projects, exploration of coal and other mineral resources, hydroelectric power, ship-building, high-tech machinery, infrastructure, transport, iron and steel and railways, construction.
He suggested that both countries should join hands in economic activities without any external pressure. Pakistan Steel Mills is a symbol of friendship between the two countries but after its establishment no more mega project has been undertaken by Russia in Pakistan.
