Pakistan and Russia sign first trade swap agreement

• 1st Pakistan-Russia Trade and Investment Forum held in Moscow.
• The minister says both sides have a wide range of joint ventures.
• “All our economic sectors are open for investment,” he says.

In a major development, Pakistan and Russia on Tuesday signed the first ever trade agreement in Moscow.

Sharing a post on social media platform X, the Embassy of Pakistan in Russia said that on the sidelines of the Pakistan-Russia Trade & Investment Forum, a memorandum of understanding (MoU) was signed on barter trade between LLC “Astarta Agrotrading” and Pak Meskay. and Femtee Trading Company and National Fruit Processing Factory.

It is pertinent to mention here that the first ever Pakistan-Russia Trade and Investment Forum is being held in Moscow.

Privatization Minister Abdul Aleem Khan, speaking on the occasion, expressed confidence that this forum marks the beginning of new bilateral relations between the two countries.

He said that Pakistan-Russia have long standing diplomatic and trade relations. He said that Pakistan attaches great importance to its relations with Russia, stressing that both sides have a wide range of joint ventures in different fields.

The privatization minister highlighted the attractive business environment offered by Pakistan. He said that Pakistan is the fifth largest market in the world and has the most liberal trade and investment regime in the region, saying that foreign investment in Pakistan is fully protected.

“All our economic sectors are open for investment.”

Pakistan’s Ambassador to Russia Muhammad Khalid Jamali has expressed satisfaction that bilateral trade between Pakistan and Russia has crossed the $1 billion mark, saying it reflects the growing interest of both countries in strengthening their economic and trade relations.

The ambassador said that Pakistan sees Russia as an important and reliable trading partner and looks forward to working with it to strengthen economic relations.