Skip Navigation LinksHome > Info Center > View News
Highlights
Image result for blinking newNotification on collection of data on Incentives offered by GoP             Image result for blinking newOnline Work Visa Application Module by BoI        Image result for blinking new Summary of various Incentives offered by GoP                                Image result for blinking new Revision of processing Fee on various services being offered to the Foreign Companies by BoI                    Image result for blinking newAutomotive Policy 2016-21                        Image result for blinking newVirtual One Stop Shop (VOSS)            Image result for blinking new   Investment Opportunities in Forestry Sector South Punjab                Net FDI  for the period of 2017-18 (July-Sept) is US$661.9 Million               Exports 2017-18 (July-Sep) are US$5.7 Billion                 Imports 2017-18 (July-Sep) are US$12.9 Billion               

Russia invited to explore untapped Pakistan market


7/27/2017

LAHORE: Being an emerging economic power, Pakistan could be most important and beneficial partner of Russia in South Asia, Lahore Chamber of Commerce and Industry (LCCI) President Abdul Basit said and invited Russian businessmen to explore the huge untapped Pakistani market.

He was talking to a two-member Russian delegation including Igor Kolesov and Elena M Kholod, who had a comprehensive discussion on trade and economic issues.
 
North-South pipeline: Pakistan, Russia reach LNG price accord
Basit pointed out that Russian interest in the China-Pakistan Economic Corridor (CPEC) was a clear evidence that CPEC was not only a game changer, but it would also change the world order.
 
Both the countries should take sector-specific measures to enhance bilateral trade that did not reflect the existing potential, he said and expressed the hope that businessmen of the two sides would enter into joint ventures and take bilateral trade to new highs. Pakistan has a lot to offer to the Russian business community while Pakistani businessmen could learn a lot from Russians for technological upgrading of their industrial units.
 
Russia helped Pakistan establish a mega steel mill in Karachi, which has played a crucial role in development of the country. The mill has been the biggest source of steel products catering to demand and value addition for related products. However, Basit said, since then no major initiative had been taken by Moscow.
 
He pointed out that Pakistan’s share in total foreign trade of Russia was very insignificant while trade balance was also in favour of Russia. Though bilateral trade is increasing gradually, it is not satisfactory. He said the Russian Federation was a market of great importance for Pakistan with massive population together with neighbouring countries.
 
Pakistan, Russia meet today to discuss $2b LNG project
 
Pakistan can export textile, garments, rice, leather, sports goods, surgical equipment and pharmaceutical goods to the Russian market while Moscow can enhance exports of power equipment, steel, urea and chemicals.
 
Basit cited Pakistan’s oil and gas sector as an area that offered great opportunities to Russia, which had the requisite experience and technology. He suggested that Russia could evaluate possibilities of collaboration with Pakistan in the mining of marble and granite as well.