ISLAMABAD – The total bilateral trade between Pakistan and Russia stood at $478.03 million in the year 2017-18 with a trade balance of $184.20 million, the National Assembly was informed on Monday.
In reply to a question raised by Pakistan Tehreek-e-Insaf’s (PTI) Uzma Riaz, the Minister for Commerce and Textile informed the House that the exports of Pakistan to Russia during this period were recorded to be the $146.92 million whereas the imports from Russia to Pakistan were recorded to be $331.12 million.
The House was also informed that Pakistan has signed no trade agreement with Russia during the last three years.
In reply to another question by Uzma Riaz, the House was apprised that the following steps have been taken to improve the Pakistan-Russia bilateral trade:
- First meeting of Pakistan-Russia Joint Working Group (JWG) on Trade and Investment took place in November 2017, during which issues of market access and cooperation in the field of custom related matters, trade in agriculture products and cooperation between business circles of the two Countries were discussed. The second meeting of JWG is likely to be held during the sixth session of Pak-Russia inter-governmental commission, which will take place soon.
- Pakistani exporters participate in some very important exhibitions including World Food Moscow (food items), Heimtextile (textiles), Dental Expo, Intercharm and Sports Exhibition held in Russia.
- A group of City Government delegation comprising businessmen from St. Petersburg visited Karachi in April 2018 and Board of Investment (BoI) coordinated their meetings with respective counterparts.
- Trade Wing (Russia) organized a visit of the FPCCI delegation to Saint Petersburg International Economic Forum (SPIEF) in May 2018 and also organized a meeting of the delegation with Federal Chamber of Commerce & Industry of the Russian Federation and with other Chambers as well.
- A delegation of “Pakistan Sports Goods Manufacturers Exporters Association” (PSGMEA) visited Russia in September 2018 and their B2B (business-to-business) meetings were arranged with relevant counterparts.
- Trade Development Authority of Pakistan (TDAP) sponsored 13 members delegation of Russian importers to Expo Pakistan 2015.
- In TEXPO, 2016 TDAP invited eight businessmen from Russia.
- TDAP also invited 14 Russian businessmen in EXPO Pakistan, 2017.
- Trade Wing organized made in Pakistan football campaign coinciding with FIFA World Cup in Russia and also organized mango campaign.