Pakistan and Russia Sign Historic Trade Deal: A New Chapter in Economic Cooperation

In a significant move to strengthen economic ties, Pakistan and Russia have signed a historic barter trade agreement during the first-ever Pakistan-Russia Trade and Investment Forum, held in Moscow. This event marks a pivotal moment in the evolving trade relationship between the two countries.

The forum brought together a 60-member Pakistani business delegation, led by Federal Minister for Privatisation, Board of Investment, and Communication, Abdul Aleem Khan. The delegation’s primary goal was to explore new business opportunities and expand economic cooperation with Russia.

Pakistan’s Ambassador to Russia, Muhammad Khalid Jamali, along with prominent Russian government officials, including Deputy Minister of Industry and Trade Alexey Gruzdev and Advisor to the Minister of Transport Evgeny Fidchuk, inaugurated the event.

A key highlight of the forum was the signing of a Memorandum of Understanding (MoU) on barter trade. This landmark agreement between Russian company LLC “Astarta Agrotrading” and Pakistani companies Meskay & Femtee Trading Company and National Fruit Processing Factory paved the way for the exchange of goods such as chickpeas, rice, mandarins, potatoes, and red lentils. This agreement marks the beginning of a new era of trade cooperation between the two nations.

Over 60 Pakistani companies showcased a wide range of products at the forum, including textiles, leather goods, sports equipment, pharmaceuticals, food, agricultural products, logistics, and tourism services. Collectively, these companies represent an export value exceeding $500 million, reflecting Pakistan’s commitment to deepening trade engagement with Russia.

On the Russian side, more than 60 government officials from key ministries, including Industry and Trade, Agriculture, and Economic Development, were present, along with representatives from the Russian Export Centre and Federal and Moscow Chambers. Russian banks, including MKB, also participated in the forum, further emphasizing the importance of this bilateral trade initiative.

This historic trade agreement between Pakistan and Russia is expected to open new doors for future collaboration and economic growth between the two nations.