Finance Minister Senator Minister Ishaq Dar has said that Pak-Russia collaboration in the field of trade, economy, science, technology, agriculture, education and culture will gain new impetus due to continuous high-level interaction between the leadership of two countries.
He was speaking on the occasion of third meeting of the Pak-Russian inter-governmental commission on trade, economic, scientific and technical cooperation held here from November 26-28, 2014, while heading the high-powered Pakistani delegation.
The minister expressed his satisfaction over rapidly increasing Pak-Russian relations in all the fields.
“We are moving forward in right direction in promoting bilateral relations in diverse fields – economic, as well as political – for the mutual benefits of both the nations and we are committed to translate them into substantive economic partnership,” he emphasized.
Russian Co-Chair and Minister of Sports of the Russian Federation V Mutko underscored that both the countries enjoy strategic geographical locations and are endowed with rich human and material resources, which offer immense possibilities for mutually beneficial collaboration.
At the conclusion of meeting, both sides signed a joint statement reiterating cooperation between the two governments as well as encouraging private entrepreneurs to boost bilateral trade, commensurate with existing potential. Both the sides expressed their determination to remove all impediments in the way of finalisation of plans and projects mutually agreed upon.
The two sides are willing to cooperate in various projects in the fields of oil and gas exploration, construction of floating LNG terminals, North-South gas pipeline from Gwadar to Nawabshah, sharing of seismic and geological data, enhanced oil recovery, LPG processing facility and gas purification plants, modernization of oil and gas infrastructure, innovative technology solutions in coal industry, and building/renovation of various power generating units in Pakistan, especially those of Russian origin.
Both the delegation also discussed cooperation in trans-national energy projects including CASA-1000 and TAPI gas pipeline.
Major Russian Companies in the energy sector including Technopromexport, Rostec-Global Resources, Rushydro International, Power Machines, Inter RAO, United Engine Corporation, and Stochinsky Institute of Mining have shown keen interest in cooperation with Pakistan.
