KARACHI: Russian Federation’s Trade Representative Yury Kozlov and Deputy Trade Representative Ruslan Aliev visited Pakistan Readymade Garments Manufacturers and Exporters (PRGMEA) House.
PRGMEA Chairman Shaikh Mohammad Shafiq welcomed the Russian mission. During the meeting, he presented an overview of Pakistan’s export of value-added textile to Russia and the potential of Pakistani cotton to meet Russian market demand, said a PRGMEA press release.
Russian Trade Representative said that there was huge potential to enhance trade volume between Pakistan and Russia.
He said that Russia had also offered its assistance to revive and expand the production capacity of Pakistan Steel Mills, Karachi, which was non-functional for last eight years at least.
Besides, he said, Pakistan and Russia were cooperating in numerous projects including the construction of north and south gas pipeline from Karachi to Lahore, and were working on 600MW project at Jamshoro Power Plant.
He also informed about progress in direct banking channels through State Bank of Pakistan and Central Bank of Russian Federation, which had already signed a memorandum of understanding in January 2018. He said that Russian companies were keen to explore opportunities in Pakistan.
He emphasized that PRGMEA members should look into the possibility of participating in numerous trade exhibitions in Russia and assured that all possible cooperation and assistance to them.