Pakistan, Russia to enhance trade & energy cooperation

March 28, 2025 (MLN): Pakistan to enhance economic, trade, and investment ties with Russia, particularly in the fields of energy, trade, and industrial collaboration.

This was stated by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, during a meeting with the Deputy Prime Minister of the Russian Federation, Alexei Overchuk, on the sidelines of the Boao Forum for Asia (BFA) Conference.

Discussions during the meeting also focused on strengthening energy cooperation, with Pakistan expressing interest in expanding the procurement of crude oil and investments in oil and gas exploration.

The two dignitaries also delved into opportunities for collaboration in the hydropower sector, with Pakistan welcoming Russia's technical expertise and investment, according to the press release issued.

The finance minister recalled the significant progress made during the 9th session of the Pakistan-Russia Inter-Governmental Commission (IGC) in Moscow, co-chaired by Pakistan’s Minister for Energy, Awais Ahmed Leghari, and Russia's Minister of Energy, Sergei Tsivilev.

Additionally, the Minister acknowledged the significance of the Pakistan-Russia Freight Pilot Train Project, scheduled for launch on March 31, 2025, under the North-South Transport Corridor via Iran.

Both sides discussed measures to ensure smooth operations, including customs facilitation and regulatory alignment.

Pakistan’s keen interest in establishing a new steel mill with Russian collaboration was also highlighted.

The minister stressed the importance of feasibility studies and cost assessments in moving the project forward.

In closing, the Federal Minister reaffirmed Pakistan's commitment to strengthening its economic and trade relations with Russia and expressed optimism about expanding bilateral cooperation in key areas of mutual interest.

The meeting concluded on a positive note, with both sides eager to achieve tangible progress in the near future.

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