Russian Ambassador Alexey Yurivich Dedov while talking to the LCCI Senior Vice President Almas Hyder, Vice President Nasir Saeed and Executive Committee Members at Lahore Chamber of Commerce & Industry invited the Pakistani businessmen to explore untapped Russian market where Pakistani merchandise can get a good place for being of good quality.

The ambassador said that both the countries should take sector-specific measures to enhance the mutual trade that does not reflect the existing potential. Both Pakistan and Russian businessmen could enter into joint ventures to benefit each other in their respective businesses and could take to level of bilateral trade to new heights with a little sector specific effort.

Russia has a lot to offer to the Pakistani business community, while Pakistani businessmen could learn a lot from Russians for the technological upgrade of their industrial units.

Speaking on the occasion, Almas Hyder said that Pakistanis are grateful to Russian Federation for helping Pakistan establish a mega steel mill in Karachi, which has played a crucial role in the development of the country.

The LCCI senior vice president said that Pakistan’s share in total foreign trade of Russia is very insignificant, while trade balance is also in the favour of Russia. He said that though bilateral trade between the two countries was increasing gradually but it was not satisfactory and there was a lot of scope to enhance mutual trade volume.

Russian Federation is a market of great importance for Pakistan with massive population together with neighbouring countries. Pakistan could export textile, garments, rice, leather, sports goods, surgical equipments and pharmaceutical to the Russian market while Russia can enhance export of power equipment, steel, urea, chemicals etc to Pakistan.

The oil and gas sector in Pakistan offers great opportunities to Russia, which has the requisite experience and technology in this field.

LCCI Vice President Nasir Saeed said that the private sector of Pakistan could definitely take the lead in exporting various types of consumer goods to Russia and in return Pakistan could supply all types of textile goods, leather and leather products, carpets and rugs, surgical goods, sports goods, agro-based products and food items, fresh fruits and vegetables, fish and fish preparations, pharmaceutical products, etc. In fact, Russia could also help introduce Pakistani products in the areas of its influence.