Russian Ambassador Alexey Yurivich Dedov Opens Arms To Pakistani Business

Posted: November 18, 2014 in Econ 101, Free Trade

SOURCE: http://www.dailytimes.com.pk/business/18-Nov-2014/untapped-russian-market-awaits-pak-businessmen-ambassador

Untapped Russian market awaits Pak businessmen: ambassador
Says both countries should take sector specific measures to enhance mutual trade

LAHORE: Russian Ambassador Alexey Yurivich Dedov has said that Pakistani businessmen should explore untapped Russian market as Pakistani products can get right place there for being of good quality.

He was speaking at the Lahore Chamber of Commerce & Industry here on Monday. LCCI President Ijaz A Mumtaz made welcome address while senior vice president Mian Nauman Kabir, vice president Syed Mahmood Ghaznavi, executive committee members, Russian Consul General in Karachi, Oleg Avdeev, and Honorary Consul of Russia in Lahore, Habib Ahmed, also spoke on the occasion.
The Russian ambassador said that both the countries should take sector specific measures to enhance mutual trade that does not reflect the existing potential. He showed optimism that both Pakistani and Russian businessmen could enter into joint ventures to benefit each other in their respective businesses and take the level of bilateral trade to new heights with a little sector specific effort.
Yurivich said that Russia has a lot to offer to Pakistani business community while Pakistani businessmen could learn much from Russians for the technological up-gradation of their industrial units.
Speaking on the occasion, LCCI President Ijaz A Mumtaz said that Pakistanis are grateful to Russia for helping Pakistan establish a mega steel mill at Karachi, which has played a crucial role in the development of the country. Today, this steel mill is the biggest source of steel products catering to the demand of the country and value addition for related products. But since then no major initiative has been taken by Russia, he said.
The LCCI president said that both the countries need to warm up their relations for mutual benefit of their people and to play an overwhelming role in the international arena on a sustainable basis. He said that Pakistan’s share in total foreign trade of Russia is very insignificant, while trade balance is also in the favour of Russia. He said that though bilateral trade between the two countries was increasing gradually but it was not satisfactory and there was a lot of scope to enhance mutual trade volume.
Mumtaz said that Russia is a market of great importance for Pakistan with massive population together with neighbouring countries. He said that Pakistan could export textile, garments, rice, leather, sports goods, surgical equipments and pharmaceuticals to the Russian market while Russia can enhance export of power equipment, steel, urea, chemicals, etc to Pakistan.
Mumtaz said that oil and gas sector in Pakistan offers great opportunities to Russia which has the requisite experience and technology in this field. He said that Russia could evaluate the possibilities of collaboration with Pakistan for mining of marble and granite as well.
The LCCI president said the private sector of Pakistan could definitely take the lead in exporting various types of consumer goods to Russia; Pakistan could also supply all types of textile goods, leather & leather products, surgical goods, sports goods, agro-based products and food items, fresh fruits and vegetables, fish and fish preparations, carpets and rugs, and pharmaceutical products etc. He said that Russia could also help in introducing Pakistani products in the areas under its influence
Mumtaz said that the profiles of Pakistani and Russian economies suggest brighter chances for joint ventures in sectors like food processing, oil, gas & mineral exploration, energy, engineering (heavy & light), transport equipments, automobiles, tractors, harvesters, machine tools, cement, fertilisers, industrial chemicals, plastic and rubber products, home appliances, etc where Russians are at the advance stage of development.

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