Pakistan, Russia sign protocol to boost economic cooperation

KAZAN, RUSSIA: Federal Minister for Commerce Syed Naveed Qamar witnessed the signing of the Protocol relating to Customs cooperation between Ministry of Commerce Pakistan and Federal Customs Services of Russian Federation aimed at facilitating and reducing costs of trade between the two countries.

The agreement was signed on the sidelines of Russia-Islamic-World-Economic Forum being held in Kazan, Russia.

The Protocol covers Administrative Cooperation and Information Exchange under the unified Tariff Preferences of Eurasian Economic Union. The landmark Protocol is another important step in building the legal framework required for developing commercial relations between Pakistan and Russia. It would besides ensuring easy flow of goods also afford significant discount in customs duties for Pakistani products entering Russian market.

The Commerce Minister is visiting Kazan to represent Pakistan at the 14th Russia-Islamic world Economic Forum held in Kazan. He held wide ranging discussions with HE Rustam Minnikhanov, Rais (Head) of Russian Republic of Tatarstan. The two dignitaries exchanged views on expanding economic relations between Pakistan and Russian Federation with special focus on Tatarstan.

Naveed Qamar earlier met Minister UAE Minister of State for Foreign Trade Dr Thani Al Zeyoudi and Afghan Minister of Trade. He also interacted with prominent Business leaders attending the Forum. This is the first time Pakistan has participated in this important Economic Forum at the Ministerial level and signals Pakistan’s commitment to deepen its economic engagement and relations with the Russian Federation and its Republic of Tatarstan.




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