Daily Times

In a meeting with Russian President Vladimir Putin on Wednesday, Prime Minister Shehbaz Sharif called for overcoming financial and banking issues between the two countries by renewing and expanding trade under a barter system.

Speaking during their meeting on the sidelines of a Shanghai Cooperation Organisation (SCO) summit, PM Shehbaz recalled how Pakistan and Russia used to have a bilateral trade and a barter system in the 1950s and 1960s.

“I think today is the time we can overcome financial and other banking issues by renewing our trade and expanding our trade under a barter,” PM Shehbaz told President Putin. “That will be very beneficial to Pakistan and we will able to overcome many problems.”

The premier called for enhancing bilateral trade between the two countries, noting that it was currently “touching $1 billion”.

Speaking further on the Pakistan-Russia ties, PM Shehbaz highlighted that he was “very happy” to share that the bilateral relations between the two states had been having a positive trajectory over the last many years, terming it a “matter of great comfort”.

“I would like to work with you closely to further cement our relations,” Shehbaz told Putin. “We have a whole lot to do and we can benefit from your experience.” The prime minister stressed that the diplomatic relations between Pakistan and Russia relations were based on strength.

“Neither are our relations driven by any geopolitical contingency nor are these impacted by relations with other countries.” PM Shehbaz also recalled his meeting with Putin in September 2022 in Uzbekistan – also on the sidelines of the SCO summit – and congratulated the Russian president on his re-election in March.

“Once again, I’d like to congratulate you on your re-election and I am sure the Russian Federation will further progress under your able leadership,” the premier said.

“I would like to thank you for this opportunity and would like to assure you on my behalf [and] on behalf of the people of Pakistan that we really want to further strengthen our relations,” Shehbaz concluded.

State-run PTV News also shared a photo of the “delegation-level talks” between the two nations, where Deputy PM and Foreign Minister Ishaq Dar, Defence Minister Khawaja Asif, and Information Minister Attaullah Tarar could be seen present as well.

PTV News quoted Putin as saying, “The relations between Pakistan and Russia are excellent. Bilateral relations have further improved thanks to trade ties between both countries.

“We can enhance our cooperation in the power and agriculture sectors. We will also increase cooperation with Pakistan in the food security sector,” he asserted.

In another post on X, PTV News said it was agreed to soon convene a Pakistan-Russia intergovernmental cooperation meeting in Moscow.

PM Shehbaz also invited Putin to pay an official visit to Pakistan at his earliest convenience, it added.