ISLAMABAD: A delegation of 50-55 Pakistani business representatives has arrived in Moscow today for a series of business-to-business (BtB) trade meetings, aiming to boost bilateral trade across various sectors. Federal Minister for Petroleum Division, Musadik Malik, who is already in Moscow for the Russian Energy Week, will lead the delegation during the meetings with Russian counterparts.
The BtB interactions will span three days, from September 30 to October 2, 2024. Organized by Pakistan’s Ministry of Commerce in collaboration with the Board of Investment and the Trade Development Authority of Pakistan, a business forum is scheduled for October 1, 2024.
Pakistani business groups from sectors including textiles, leather, sports goods, surgical instruments, carpets, engineering goods, logistics, agriculture, and tourism will engage with Russian entrepreneurs to explore new trade opportunities.
A major challenge for Pakistani traders is navigating financial transactions due to the SWIFT sanctions on some Russian companies. To address this, Pakistani officials are considering collaboration with Chinese banks and strengthening ties with non-sanctioned Russian banks. Additionally, proposals for a direct shipping line between Karachi and St. Petersburg and alternative land routes through Iran, Afghanistan, and China are being explored to facilitate smoother trade relations.
Story by Khalid Mustafa
