Pakistan seeks barter trade revival with Russia

July 03, 2024 (MLN): In a meeting with Russian President Vladimir Putin on Wednesday, Prime Minister Shehbaz Sharif emphasized the need to overcome financial and other banking issues to expand barter trade between the two countries.

During a meeting in Astana, Kazakhstan, on the sidelines of the Shanghai Cooperation Organisation (SCO) summit, he emphasized Pakistan's long-standing business relations with Russia, said a press release issued today.

Sharif recalled that Pakistan used to import lot of machinery and goods from erstwhile Soviet Russia and export textile and leather goods under barter.

The Prime Minister further said the two countries can certainly enhance trade, which is at the moment, touching $1 billion.

He also commended the Russian President for promoting cooperation in the field of energy on his request.

He added Pakistan has received a shipment of oil from Russia and there is a need to further move in this direction.

Regarding bilateral relations between Pakistan and Russia, Shehbaz Sharif said these ties have been on a positive trajectory for many years, which is a matter of great comfort for both countries.

He stated that their relations stand on their own strength, not driven by any geopolitical contingency nor impacted by ties with other countries.

The Prime Minister, on the occasion, also expressed the desire to work closely with President Vladimir Putin to further cement bilateral relations.

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