look news india
Pakistan Russia Trade Agreement: Pakistan and Russia have decided to strengthen economic relations between the two countries. Now Pakistan-Russia Trade and Investment Forum has been inaugurated in the capital Moscow. Pakistan has been continuously increasing economic and trade relations with Russia for some time. Apart from this, Pakistan also has its eyes on BRICS group. The investment forum was inaugurated under the chairmanship of Union Minister for Privatization, Investment and Communications Abdul Aleem Khan. An MoU has also been signed between the two countries regarding this trade agreement.
An agreement was reached regarding barter trade
Russia's Deputy Minister of Industry and Trade Alexey Gruzdev inaugurated the platform at an opening ceremony held in Moscow. It was attended by other senior Russian officials, including Evgeny Fidchuk, advisor to the Transport Minister. Meanwhile, Pakistan's Ambassador to Russia Mohammad Khalid Jamali was also present there. An agreement on barter trade has been signed between the two countries. Both the countries have also signed an MOU regarding this. In this trade one thing is given and another thing is bought.
Pakistan will get some relief from this agreement with Russia. Everyone is aware of the poor condition of Pakistan. Its foreign exchange reserves are also empty. On the other hand, an agreement has been signed between a Russian firm LLC and two Pakistani companies for exchange of goods like gram, rice, fruits, potatoes and pulses.
barter trade was also done earlier
Russia and Pakistan used to trade goods. In the 50-70s, Pakistan used to import machinery from Russia. On the other hand, Russia exported leather and other goods. Pakistan had requested this exchange during the SCO summit held this year. Which Russia has accepted. Pakistani media has described this deal as historic. India is also keeping an eye on the agreement signed between Russia and Pakistan.