A significant step in Pakistan-Russia economic relations was achieved at the Pakistan-Russia Trade and Investment Forum held in Moscow on October 1, 2024, with the signing of the first-ever Memorandum of Understanding (MOU) on barter trade between the two nations. This milestone aims to strengthen trade ties and facilitate business exchanges between both countries.
The Pakistani delegation, led by Federal Minister for Privatization, Board of Investment & Communication, Mr. Abdul Aleem Khan, included representatives from 60 Pakistani companies, seeking to explore new opportunities in sectors like textiles, leather, sports goods, pharmaceuticals, food, and agriculture.
The forum was inaugurated by Pakistan’s Ambassador to Russia, Muhammad Khalid Jamali, and featured key Russian officials such as Alexey Gruzdev, Deputy Minister of Industry and Trade of Russia, and Evgeny Fidchuk, Advisor to the Minister of Transport of Russia.
Key agreements were signed between the Russian company LLC “Astarta Agrotrading” and Pakistani firms Meskay & Femtee Trading Company and National Fruit Processing Factory. The agreements cover the barter exchange of goods such as chickpeas, rice, mandarins, potatoes, and red lentils.
The forum saw the participation of over 60 Russian government officials from various departments, highlighting the event’s importance for strengthening bilateral trade and economic cooperation. This inaugural trade and investment forum signifies a new era of collaboration between Pakistan and Russia, with a combined export value of over 500 million USD represented by Pakistani businesses.
