—CM highlights cooperation between two countries to bring prosperity in South Asia
KARACHI: Chief Minister Sindh Syed Murad Ali Shah has said that in the emergence of a multipolar world and changing power configurations worldwide and also in the South Asian region, Pakistan’s close association with Russia is very important and cooperation between the countries will bring prosperity in the entire South Asian region.
The Chief Minister was talking to a high-power delegation of Saint Petersburg, Russia led by its Vice Governor Mr Sergej N. Movchan which called on him at CM House here on Wednesday. The delegation comprised leading companies from St. Petersburg, Russia in the fields of Energy, Oil & Gas, Textile and Fashion Industry, Light Industry, Pharmaceuticals and others. The objective is to create business linkages to enhance bilateral trade leading to meaningful cooperation.
Murad Shah said that the current phase between the two countries is very promising and very encouraging. There have been frequent high-level visits over the past few years, and interaction between the two-sides compared to the past has been intense.
It may be noted that headed by Vice Governor of Saint Petersburg, Mr Sergej N. Movchan a high-level business delegation is visiting Karachi, from April 24 to 26, 2018 on the occasion of 70th anniversary of diplomatic relationship between Pakistan and Russian Federation to further strengthen relationship between Province of Sindh and St. Petersburg Russia.
CM Sindh Syed Murad Ali Shah and Vice Governor of St Petersburg Mr Sergej N. Movchan signed a memorandum of understanding (MOU) for enhancing cooperation in education, energy, oil, & gas, textile, water filtration and pharmaceutical.
The Sindh Board of Investment (SBI) has hosted a meeting and Sindh-St. Petersburg Business Forum to instigate partnerships among the local and Russian counterparts.
Russia is currently involved in many energy projects inside Pakistan and is fully committed to help Pakistan alleviate its energy crisis. Russia is the world’s largest producer of oil and gas and Pakistan has welcomed Russian investment in the energy sector. The expertise of Russia’s oil company like Rosneft and Gazprom Gas Company have contributed significantly in developing Pakistan’s oil and gas potential.
CM Murad Ali Shah said that the trade links have existed historically between the two countries, but the volume of trade needs to be increased exponentially so that both countries can reap more benefits from it. Pakistan exported goods worth $ 131.68 million in 2017 as against exports of $ 151.41 million in 2016. This shows a decline of 13 percent.
During the meeting, it was agreed that the Saint Petersburg would provide technical assistance and technology in the treatment of wastewater and desalination of seawater. The Chief Minister also invited Saint Petersburg and Russian business community to invest in Thar Coal mining and power generation. He also added that Russians have expertise in ports and shipping sector. The Sindh government is interested to develop Keti Bander ports and jetty. He invited Russian firms to come over and take benefit from business opportunities in Sindh.