Minister for Finance Senator Ishaq Dar has said that there are vast investment opportunities in Pakistan and the Russian investors should exploit these opportunities. He said Pakistan has become a choicest place for foreign investors due to pro-investor policies of the incumbent government.
Addressing the first ‘Pakistan Russia Investment Forum’, Dar asked Russian investors to explore trade opportunities existing in energy, infrastructure development, industry and defence industry to enhance bilateral trade between the two countries. The event was organised by the board of investment with an aim to promote bilateral trade and investment relations between Pakistan and Russia by introducing the potential investors and traders of the two countries with their respective sectors.
The finance minister said in order to tape the bilateral trade and investment, he had also visited Moscow last year. The recent visit of Prime Minister Nawaz Sharif also remained productive as it opened new ways for bilateral cooperation, he added.
He said the event would provide opportunities for the businessmen of both sides to exploit trade potential of both countries and take the bilateral trade to new heights which were not yet truly translated. He said the incumbent government had taken steps to resolve 15 years old trade disputes involving Pakistan and Russian businessmen’s claims which were relatively lower.
Dar expressed hope that matter would be resolved in Pakistan-Russia inter-governmental commission (IGC) meeting scheduled to be held on today. He said the IGC would also deliberate for further promotion of bilateral trade and find ways and means to exploit the true trade potential of both the countries. He informed the Russian delegates that after attaining the macro-economic stability within two years time, the government was now focusing on growth trajectory and job creation for long-term sustainable economic development.
He said despite huge GDP of Russia, the bilateral trade size was very small. Investment of Russia in North-South Gas Pipeline would further strengthen the investment potential. He Pakistan was also seeking strategic partnership for Pakistan Steel Mills and offered the Russian investors to take advantage from the opportunity.
Speaking on the occasion, Chairman Board of Investment Mifthah Ismail said that 60 potential investors and business delegates were participating in the forum which would help to improve business-to-business linkages.
Addressing the forum, the Russian minister for industry stressed the need for enhancing business-to-business linkages and organising trade exhibition. He informed that delegates from different sectors of Russian economy were attending the forum which would help to promote bilateral trade relation.