The eighth session of the Intergovernmental Commission for Trade, Economics, Science and Technical Cooperation between Pakistan and Russia has started in Islamabad.
On behalf of Pakistan, Secretary, Ministry of Economic Affairs, Dr. Kazim Niaz, while addressing the opening ceremony, said that there is a need to take full advantage of the competitive potential of cooperation between Pakistan and Russia in various fields.
He said that due to the floods in the country during the last monsoon, there was a huge loss of life and property, Pakistan appreciates the support of the international community to help the flood affected people.
He said that the international community helped Pakistan in the time of crisis which is commendable, Pakistan also appreciates the aid provided by Russia.
Dr. Kazim Niaz said that the purpose of this session is to review the existing areas of cooperation between the two countries and to find new opportunities to deepen bilateral relations, economic trade and investment based relations. It is Pakistan's first priority to promote )
Head of the Russian delegation and Deputy Director of the Ministry of Economic Development Israfel Alizade said in his address that Russia values its relations with Pakistan.
He said that currently good relations are established between Pakistan and Russia in various sectors of the economy, we wish that the relations between the two countries will be further developed.
) He said that we believe that there is a vast potential in both economies which needs to be exploited. He arrived in Pakistan under the leadership of the Russian Minister of Energy to discuss the issue of oil and LNG purchase. had said that Russia has decided to give us crude oil at discounted rates, in this regard an inter-governmental delegation of Russia will visit Pakistan in January.
He said. It was said that apart from crude oil, Russia will also supply petrol and diesel to Pakistan at a low price, LNG from private companies in Russia. Discussions have started for the same, discussions have also started with the Russian government LNG factories. is setting up new factories and has invited Pakistan to start negotiating long-term contracts for 2025 and 2026.
This announcement by the Minister of State for Petroleum One month after this statement of Finance Minister Ishaq Dar
came in which he said that the country is considering buying subsidized oil from Russia while the neighboring country India is also buying oil from Moscow and Islamabad also has the right to try in this regard.
After this statement by the Finance Minister, Mossadegh Malik went to Russia to discuss other issues including oil and gas supply.