‘Banking System To Enhance Trade Between Pakistan,Russia’

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FAISALABAD: A reliable and mutually acceptable banking system was imperative to enhance bilateral trade between Pakistan and Russia.

This was said by Mr. Yury M Kozlov, Trade Representative of the Russian Federation, during a meeting with Rana Sikandar Azam, President Faisalabad Chamber of Commerce & Industry (FCCI) on Wednesday.

He said a display center had been set up in Moscow where exporters of Faisalabad could also display their textile related products.

He asked the FCCI president to arrange a trade delegation for Moscow to interact with their Russian counterparts. He said that a meeting of Pakistan-Russian Inter Trade Communion was scheduled to be held during the next month and businessmen from Faisalabad should also submit their viable proposals about trade ties between the two countries.

He said that Russia had undertaken many mega projects in Pakistan, including the Pakistan Steel Mills and Guddo Power Plant.

He also mentioned an exhibition held in Moscow the last year and said that 250 Russian companies had participated in it.

He welcomed a proposal to make trade between two countries in Ruble and Pak Rupee instead of in Dollars.

Earlier, FCCI president Rana Sikandar Azam, in his welcome address, said that trade volume between two courses was limited only due to lack of proper banking channels and:” We should develop mutually acceptable and reliable banking system to grow trade between the two countries.” Later, Mr. Yury presented some CDs and minutes of the fifth session of the Russian-Pakistan Inter-Governmental Commission on Trade, Economic, Scientific and Technological Cooperation to Rana Sikandar Azam.

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