Pak-Russia IGC meeting begins to promote trade cooperation

• 8th meeting of Pakistani-Russian IGC commenced in Islamabad
• Russian delegation comprising 80 members is participating in the meeting.
• They will discuss provision of oil and petroleum products to Pakistan

ISLAMABAD: The 8th meeting of the Pakistani-Russian Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation commenced on Wednesday to hold talks on diverse bilateral issues.

The three-day session aims at reviewing the existing areas of cooperation and finding new opportunities for further deepening the bilateral relations between the two countries. The Russian delegation, comprising around eighty members, is participating in the meeting.

During the first day of the commission’s meeting, technical sessions were held on trade and investment, agriculture, energy, Industry, education, science and technology, information and communication technologies, finance, customs, and communication including roads, postal service and railways.

The consultations mainly focused on previous decisions between both countries and deliberated on new proposals for cooperation that would be incorporated into the main protocol of the commission and signed during the plenary session on third day of the session.

Speaking at the opening session of the meeting, Secretary Ministry of Economic Affairs, Dr Kazim Niaz said that a huge potential exits to benefit from the comparative advantage between Pakistan and Russia.

He said Pakistan was affected due to devastating floods and appreciated the support extended by the international community during such times of crisis.

The secretary also shared sentiments of gratitude to the Russian government for their continuous support during this whole time. He said enhancing economic trade and investment relations was the prime priority of Pakistan.

Speaking on the occasion, Deputy Director of the Department of Ministry of Economic Development of the Russian Federation Israfil Ali-Zade said Russia valued its relations with Pakistan.

He said there was a good level of cooperation in all sectors and Russia aimed to enhance it further. He added that there was a great potential between both economies that needed to be explored.

It is pertinent to mention that the 7th session of the commission was held in Yekaterinburg, Russia during last week of November 2021.

On second on Thursday, the two sides are scheduled to hold technical consultations on finalizing the ‘Draft Protocol’ of the ongoing 8th IGC session.

They will discuss ways and means to promote cooperation in diverse fields like trade and investment, agriculture, energy, industry, education, science and technology, Information and communication technologies, roads, postal services and railways, finance and customs.

On Friday, the main discussion will be on the implementation of the much-awaited Pakistan Stream Gas Pipeline (PSGP).

They will also discuss oil and petroleum products delivery to Pakistan, financial cooperation, and besides cooperation in different sectors

The meeting will discuss the implementation of the decisions and recommendations of the seventh meeting of the commission, before signing of the final protocol of the 8th meeting.

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