ISLAMABAD: Pakistan and Russia signed a Memorandum of Understanding (MoU) on Cooperation in Railway sector on Friday on the sidelines of 27th St. Petersburg International Economic Forum (SPIEF).

The Memorandum of Understanding aims to explore opportunities for implementing railway upgrade projects and other initiatives within this crucial sector.

According to a press release issued by the Ministry of Railways, the MoU also establishes a framework for potential future collaboration with relevant companies operating in this sector.

Furthermore, it seeks to enhance and streamline international cargo transport.

The MoU was signed by Ambassador Muhammad Khalid Jamali from Pakistan side and Deputy Transport Minister  D.S. Zverev from the Russian side.

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During the ceremony, a Memorandum of Understanding was signed between Pakistan and China regarding the production of solar panels. Moreover, a Memorandum of Understanding was signed for the project to manufacture Y-to-O tractors