Pakistan, Russia to hold 7th meeting of IGC from November 24

ISLAMABAD: The 7th meeting of the Pakistan-Russia Inter-Government Commission will be held in Yekaterinburg, Russia from November 24 to 26, 2021.

Federal Minister for Economic Affairs Omar Ayub Khan and Minister for Energy of the Russian Federation Nikolay Shulginov are the co-chairs of the commission.

In this regard, Omar Ayub Khan chaired a high-level meeting to discuss the agenda of the upcoming meeting of Pakistan-Russia Inter-Government Commission on Trade, Economic, Scientific and Technical Cooperation.

The meeting reviewed the progress on the decisions of the 6th IGC meeting, which was held in Islamabad in December 2019.

The minister emphasised on enhancing bilateral relations with the Russian Federation as both countries have huge potential for mutual cooperation in various fields.

The participants deliberated on the various proposals for cooperation with Russia, including trade, Customs, energy, industry, agriculture, education, science and technology, transport and information and communication technology.

Khan expressed that the role of the private sector is significant for enhancing bilateral relations, especially trade and investment.

He expressed the hope that Pakistan and Russia would have very constructive and positive dialogue for enhancing bilateral relationships during the upcoming IGC meeting.

The minister directed to identify the priorities and prepare comprehensive proposals, including scope, action plan, output and outcomes along with timelines.

Regional integration is fundamental to enhance socioeconomic relations in the region, he said, adding that regional connectivity can lead to substantial economic gains with Central Asia, Russia and China.

The representatives of Ministry of Foreign Affairs, Ministry of Commerce, Ministry of Energy, Ministry of Information Technology and Telecommunication, Ministry of National Food Security and Research and other relevant departments attended the meeting.

Earlier, the minister for economic affairs also chaired two meetings on the World Bank-funded projects, i.e., Higher Education Development for Pakistan and Khyber Pass Economic Corridor.

The objective of the Higher Education Development project is to support research excellence in strategic sectors of the economy, improve teaching and learning and strengthen governance in the higher education sector.

Dr Shaista Sohail, executive director of the Higher Education Commission, briefed the minister on the progress of the project.

The minister also reviewed the progress on the Khyber Pass Economic Corridor (KPEC) project and directed the National Highway Authority and the government of Khyber-Pakhtunkhwa to expedite its designing and contract award on a fast-track basis.