Daily Times

The statement issued by the Pakistan-Russia Joint Cooperation Commission for Trade, Economy, Science, and Technology is actually the start of relations between the two nations. The import of oil from Russia, which may be paid for in the currencies of friendly nations, will begin in about two months, according to the Russian Minister of Energy. As a result, Pakistan’s import cost will undoubtedly fall down greatly; yet, due to long-term, ongoing agreements, Russia won’t be able to export LNG anytime soon to Pakistan.

Both parties reaffirmed their commitment to fostering solid economic connections. The perception in the past few months has been that Pakistan and Russia are primarily negotiating to buy oil at lower prices than the international market, but the joint commission’s broad mandate made it clear that the two countries are negotiating on nearly every element of daily life.

According to the joint declaration, the two nations have created ties in the areas of trade, investment, energy, communication, transportation, higher education, industry, railroads, finance, banking, customs, agriculture, science, and information technology. A detailed strategy for energy cooperation that will be finished this year and lay out future collaboration in the industry was also agreed upon by both parties.

The Pakistan Stream Gas Pipeline Project is viewed as suitable for comprehensive infrastructure in the framework of sustainable gas infrastructure development by the parties. In addition, the federal and provincial governments welcomed Russian investors to take advantage of numerous investment opportunities. The parties agreed that difficulties with certificates of origin and electronic verification of goods would be handled by May, and that focal points for logistical cooperation in Central and South Asia would be formed.

The sides also agreed to expand bilateral cooperation in science and technology, higher education, joint ventures, training and educational possibilities for Pakistani students in Russia, and to use innovative trade and business methods, such as bartering and other available mechanisms.

It was also resolved to work together and share information about rail and road infrastructure. Following that, the two countries inked three cooperation agreements: in customs matters, civil aviation, and customs protocol. The declaration demonstrates that relations between Pakistan and Russia are steadily warming. It is hoped that Russia’s assistance in resolving Pakistan’s current economic issues will be quite successful. It is heartening that, as a result of Pakistan’s foreign policy, active connections are being built with all-weather friends such as China and Saudi Arabia, as well as the entire Western world, including the United States, and Russia. *