Pakistan, Russia Begin Talks on Oil and LNG Imports

The 8th meeting of the Pakistani-Russian Inter-Governmental Commission (IGC) on Trade, Economic, Scientific, and Technical Cooperation commenced today.

During the meeting, both sides aim to review existing areas of mutual cooperation and identify new opportunities to solidify bilateral relations between the two countries. The Russian delegation attending the IGC sessions comprises approximately 80 members, according to a press statement issued by the Economic Affairs Division.

Opening Statement was made by the Secretary Ministry of Economic Affairs Dr. Kazim Niaz from the Pakistan side and by the Deputy Director of the Department of the Ministry of Economic Development of the Russian Federation Israfil Ali-Zade from the Russian Side.

During the inauguration, the Secretary Economic Affairs Division shared that there exists a huge potential to benefit from the comparative advantage between Pakistan and Russia. Pakistan got a big hit due to a devastating flood and currently, Pakistan is carrying out reconstruction and rehabilitation programs at an extensive level.

Dr. Kazim Niaz appreciated the support extended by the international community during such times of crisis. He also shared sentiments of gratitude to the Russian government for their continuous support during this whole time.

Deputy Director of the Department of Ministry of Economic Development of the Russian Federation Israfil Ali-Zade, during the inaugural session, stated that Russia highly values its relations with Pakistan.

He mentioned that there is a good level of cooperation in all sectors of the economy. However, there are various new avenues and opportunities that need to be explored further. Therefore, this session aims at reviewing the existing areas of cooperation and finding new opportunities for further deepening the bilateral relations.

The Russian delegation comprising 80 members is carrying out ongoing technical consultations in various areas. The areas of consultation include trade and investment, Agriculture, Energy, and Industry. Other areas under consultation are education, science, technology, and information and communication technologies. The groups from both sides will hold technical consultations in working sessions on their respective agenda items. Each group will have one lead delegate from each side. The Main Protocol of the Commission will be discussed, confirmed, and signed in the plenary session on 20th January.

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