In a significant milestone, Pakistan and Russia finalized their first-ever barter trade agreement on Tuesday in Moscow. The Pakistan embassy in Russia shared the update on the social media platform X, announcing the deal was signed on the sidelines of the Pak-Russia Trade & Investment Forum. The memorandum of understanding (MoU) was agreed upon between LLC “Astarta Agrotrading,” Pak Meskay and Femtee Trading Company, and National Fruit Processing Factory.
Notably, this event coincided with the inaugural Pakistan-Russia Trade and Investment Forum in Moscow.
Privatisation Minister Abdul Aleem Khan expressed optimism, stating that this forum marks the beginning of a new chapter in Pakistan-Russia relations. He acknowledged the historical diplomatic and commercial ties between the two nations and emphasized the broad potential for joint ventures in various sectors.
Khan also highlighted Pakistan’s favorable business landscape, noting that it is the fifth-largest market globally with one of the most liberal trade and investment regimes in the region. He assured that foreign investment in Pakistan is fully safeguarded, adding, “All our economic sectors are open for investment.”
Pakistan’s Ambassador to Russia, Muhammad Khalid Jamali, was pleased that bilateral trade has surpassed the $1 billion mark, reflecting a shared commitment to strengthening economic ties. He emphasized that Pakistan views Russia as a key and dependable trade partner, with aspirations to further expand their economic cooperation.
