Multan, March 11, 2015 (PPI-OT): Russian Ambassador Alexey Yurivich Dedov has said that Pakistani businessmen should explore untapped Russian market as Pakistani products can get right place there for being of good quality.
He was speaking at the Multan Chamber of Commerce and Industry (MCCI) here on Wednesday.
MCCI President Mian Iqbal Hassan made welcome address while senior vice president Jehangir Jamil Ahmed Khan, vice president Mirza Ali Ahmed, Chairman of APBUMA Khawaja Jalaluddin Roomi, Khawaja Farooq, executive committee members, Russian Trade Representative in Islamabad Yuri Cozlove, and Honorary Consul of Russia in Lahore, Habib Ahmed, also spoke on the occasion.
While Dr. Shahid Hassan Coordinator was accompanied by them The Russian ambassador said that both the countries should take sector specific measures to enhance mutual trade that does not reflect the existing potential. He showed optimism that both Pakistani and Russian businessmen could enter into joint ventures to benefit each other in their respective businesses and take the level of bilateral trade to new heights with a little sector specific effort.
Yurivich said that Russia has a lot to offer to Pakistani business community while Pakistani businessmen could learn much from Russians for the technological up-gradation of their industrial units. In reply to a question The Ambassador said that Muzaffargarh and Jamshoro thermal power stations were generating 30 percent of their generation capacity.
We are ready to modernise these unit besides the modernisation of Karachi Steel Mills but Government was not ready to increase the efficiencies of these units because it was going towards the privatisation. He said that financial assistance cannot be provided to private sector, it was given to the Government by the Government however we are ready to do business with private sector. He said that Russian Federation has provided financial assistance of $ 2 billion for energy sector.
The Russian Ambassador said, We have opened gates for Pakistan businessmen and a branch of National Bank was being established in Moscow while traders can deal with use through Habib Bank, Askari Bank etc. He said that Project of Gadani energy park was cancelled. He said that Finance Minister Ishaq Dar visited the Russian Federation and discussed different issues like raising the living standard of the masses. Health, Education and Energy problems.
Habib Ahmed Honorary Consul said that Russian Federation was establishing trade centres in Multan, Sialkot and Lahore to facilitate the buyers Speaking on the occasion, MCCI President Mian Iqbal Hassan said that Pakistanis are grateful to Russia for helping Pakistan establishing thermal power stations in Muzaffargarh and Jamshoro a mega steel mill at Karachi.
But since then no major initiative has been taken by Russia, he said. The MCCI president said that both the countries need to warm up their relations for mutual benefit of their people and to play an overwhelming role in the international arena on a sustainable basis. He 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. Mian Iqbal Hassan said that Russia is a market of great importance for Pakistan with massive population together with neighbouring countries. He said that Pakistan could export textile, garments, rice, leather, sports goods, surgical equipments and pharmaceuticals to the Russian market while Russia can enhance export of power equipment, steel, urea, chemicals, etc to Pakistan.
MCCI President said that oil and gas sector in Pakistan offers great opportunities to Russia which has the requisite experience and technology in this field. He said that Russia could evaluate the possibilities of collaboration with Pakistan for mining of marble and granite as well.
The MCCI president Mian Iqbal Hassan said the private sector of Pakistan could definitely take the lead in exporting various types of consumer goods to Russia; Pakistan could also supply all types of textile goods, leather and leather products, surgical goods, sports goods, agro-based products and food items, fresh fruits and vegetables, fish and fish preparations, carpets and rugs, and pharmaceutical products etc.
He said that Russia could also help in introducing Pakistani products in the areas under its influence
Mian Iqbal Hassan said that the profiles of Pakistani and Russian economies suggest brighter chances for joint ventures in sectors like food processing, oil, gas and mineral exploration, energy, engineering (heavy and light), transport equipments, automobiles, tractors, harvesters, machine tools, cement, fertilisers, industrial chemicals, plastic and rubber products, home appliances, etc where Russians are at the advance stage of development.
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