Pakistan And Russia Plan To Sign Free Trade Agreements And Currency Swap Agreements
According to Pakistan, Shanghai cooperation
organization
During the tenth prime ministers' meeting, Pakistan Prime Minister Gilani and Russian Prime Minister Putin held talks on issues of common concern between the two countries.
Leaders of the two countries expressed their hope to accelerate the signing of bilateral free trade agreements and currency swap agreements, and continue to enhance pragmatic cooperation in energy, trade, infrastructure, agriculture, commerce, counter-terrorism and other fields, and promote personnel exchanges between the two countries.
Gilani said that in recent years, the relations between Pakistan and Russia have been developing steadily and pragmatically.
cooperation
The two countries are in a good position to continue to push forward bilateral trade and economic cooperation. They should make joint efforts to make trade development correspond to the development of bilateral relations.
Gilani also suggested that commercial banks in both countries should set up branches in each other to promote trade.
Putin said that Pakistan is an important country in South Asia and the Muslim world, and is especially important for regional peace and security.
Russia and Pakistan will hold inter ministerial committee meetings in December 12th to discuss bilateral free-trade agreements, currency swap and mutual interest.
energy
And other cooperation issues.
Putin also announced that Russia will provide $500 million in financing to the Central Asia South Asia electricity trade and pportation project (CASA-1000), which aims to pport electricity from Turkmenistan, Tajikistan and Kyrgyzstan to Pakistan and Afghanistan. Russia will also provide assistance to Pakistan Steel Corp (PSM) to help increase its production capacity from the current 1 million tons to 3 million tons; Russia will provide technical support for the development of the bartal coal gas project and upgrading and pformation of Guddu and Mu Zafar Gal (Muzaffargarh) thermal power stations; Russia also hopes that the earth Arab Pakistan India natural gas pipeline project (TAPI) can start as soon as possible.
Putin also said that Russia and Pakistan maintain friendly strategic partnership with China, and hope that the three countries will work together to contribute to peace, stability and prosperity in the region.
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