Russia to extend cooperation to revive Pakistan Steel Mills

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December 11, 2019: Russia has expressed willingness to expand cooperation with Pakistan in different sectors including the industrial, agricultural, energy, medicine and railways.

These positive sentiments were expressed by Russian Trade Minister Denis Valentinovich during the sixth meeting of Pakistan-Russia intergovernmental Commission at the foreign office in Islamabad on Wednesday.

Later addressing a joint news conference along with Hammad Azhar, The Russian Trade Minister said Pakistan Steel Mills was established with the cooperation of Russian experts. He said we will extend cooperation to Pakistan to revive the Steel Mills and enhance its productivity.

He expressed interest in building the geological capacity of Pakistan apart from building North-South Gas Pipeline.

Denis Valentinovich said Russia wants to cooperate with Pakistan in the aircraft manufacturing sector. He said there are immense opportunities for cooperation in the field of agriculture.

Speaking on the occasion, Minister for Economic Affairs Hammad Azhar said Pakistan desires to transform relations with Russia into a strategic partnership.

He said there are tremendous opportunities to enhance cooperation in the fields of trade, business to business relations and people to people contacts.

The Minister said Pakistan has been included in the list of top ten countries for Ease of Doing Business.

He said due to the government's prudent policies, Pakistan has reduced trade and current account deficits and consequently, international organizations are recognizing Pakistan's economic stability.

Applauding the Russian offer to revive Pakistan Steel Mills, he said there is huge scope of cooperation between the two countries in the energy sector.

He expressed the hope that works on North-South Gas pipeline. He urged the Russian companies to invest in oil and gas sector of Pakistan.

Hammad Azhar said Pakistan also desires to enhance cooperation in establishing economic zones. He said cooperation between Pakistan and Russia in the field of Science and Technology will be helpful for the development of the region.

Posted on: 2019-12-11T14:28:00+05:00

31505

$2.88 billion

Pakistan's merchandise trade deficit for the month of November

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