Prime Minister Shehbaz Sharif highlighted the importance of enhancing bilateral trade between Pakistan and Russia during a meeting with President Vladimir Putin at the Shanghai Cooperation Organisation (SCO) summit in Astana.

  • Historical Context:
    Shehbaz Sharif recalled the strong bilateral trade and barter system between Pakistan and Russia in the 1950s and 1960s, focusing on machinery imports and exports of commodities like leather.
  • Current Trade Dynamics:
    Bilateral trade currently stands at around $1 billion, with potential for expansion by overcoming financial and banking hurdles.
  • Shared Benefits:
    Emphasizing mutual benefits, Shehbaz Sharif expressed optimism about strengthening economic ties, highlighting recent Russian oil shipments to Pakistan.

PRIME MINISTER’S REMARKS

Prime Minister Shehbaz Sharif expressed pleasure in meeting President Putin, congratulating him on his re-election and anticipating further progress under his leadership. He underscored the positive trajectory of bilateral relations and pledged to enhance cooperation across various sectors.

PUTIN’S RESPONSE

President Vladimir Putin acknowledged the cordial relations between Pakistan and Russia, emphasizing the role of trade linkages in fostering closer ties. He proposed expanding cooperation in energy, agriculture, and food security, reflecting mutual interests in economic development.

FUTURE COLLABORATION

Both leaders discussed avenues for collaboration, particularly in energy and agriculture sectors, signaling a commitment to deepen economic cooperation beyond geopolitical considerations.

CONCLUSION

The meeting between Prime Minister Shehbaz Sharif and President Vladimir Putin underscores the shared commitment to revitalizing and expanding bilateral trade, paving the way for enhanced economic relations between Pakistan and Russia.

ALI

ALI

Experienced Senior Research Analyst

SIKANDER RAZA

SIKANDER RAZA

Sikander Raza, a Senior Technical Analyst

HAMZA SALEEM

HAMZA SALEEM

Hamza Saleem, a Senior Business Analyst

IRSA

IRSA

Irsa Sajjad, as a Research Analyst for Equities

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