Business

Russia Opens Its $3 Billion Seafood Market to Pakistan

Pakistan has secured access to Russia’s $3 billion seafood import market, after approval was granted to 16 local seafood processing plants to export their products, marking a major breakthrough for the country’s fisheries sector.

The development was announced by Muhammad Junaid Anwar Chaudhry, who described it as a historic step achieved through diplomatic and technical efforts.

With this approval, Pakistan is set to begin its first-ever seafood exports to Russia, opening doors to a large new market beyond its traditional destinations such as China, Gulf countries, Southeast Asia, Europe, and the United States.

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Currently, Pakistan’s seafood exports stand at around $500 million annually, but officials expect this figure to increase significantly, with Russia alone projected to contribute about $300 million in the initial phase.

Over time, total seafood exports could rise to around $800 million, as Pakistan expands its presence in the region.

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Published by
Muhammad Bilal