First truck of Russian goods arrives in Pakistan

• The first truck carrying export goods from Russia arrived in Pakistan.
• The truck arrived through the Torkham border from Afghanistan.
• Trade has been on the rise under the TIR Convention.

ISLAMABAD: The first truck carrying export goods from Russia has successfully arrived in Pakistan, signaling a positive trajectory in trade between the two countries.

The Russian Embassy confirmed the successful arrival of goods from Russia under the TIR Convention. The truck arrived through the Torkham border from Afghanistan.

Trade has been on the rise under the Transport International Routes (TIR) Convention which enables goods to move under customs control without the payment of the duties and taxes that would normally be due at importation.

A condition of the TIR procedure is that the movement of the goods must include transport by road. By May 2023, trade between the two countries had witnessed a nearly 50% increase, surpassing $760 million.

Federal Minister of Communications Asad Mahmood said the road transport agreement between Pakistan and Russia holds great importance in the current geographical and economic context.

The minister highlighted the agreement’s potential as a catalyst for boosting Pakistan’s economy and facilitating expanded trade. He reiterated the significance of the road transport agreement between Pakistan and Russia, which was signed during his visit to Moscow in November 2022.

Earlier, in a historic development, the first ship carrying Russian oil arrived at Karachi port. The ship brought 45,142 metric tons of crude oil to Pakistan. Another ship carrying over 55,000 tonnes of oil arrived later.

Pakistan’s exports to Russia stand at $150 million, while imports hover around $300 million. The implementation of this direct transportation service is expected to boost Pakistani exports to Russia to $2.5 billion.