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 economic activity. Yury M Kozlov, Trade Representative of the Russian Federation in Pakistan, said this while addressing a business community at Islamabad Chamber of Commerce & Industry during his visit to the ICCI. He said Russia eyed Pakistan as a significant market and many Russian investors were taking interest to explore Pakistan for joint ventures and investment. He said previously Russia participated in some big projects in Pakistan including Pakistan Steel Mills and now there was a renewed interest to enhance trade and economic ties with Pakistan in multiple areas. Yury M Kozlov said negotiations were in process with Pakistan for energy projects and cooperation in science and technology. He said a Russian company had already offered $1 billion financial and technical assistance for rehabilitation and upgradation of Pakistan Steel Mills. He said Russia was also ready to implement 500-600 MW coal-fired thermal power projects near Muzaffargarh and Jamshoro and also to modernise and convert some other power projects in Pakistan to coal.
