Banking channel with Russia urged

KARACHI: The national chambers of Pakistan and Russia have emphasised the need to enhance banking channel between the two countries to multiply existing trade volumes and unfold the untapped avenues and potential of both the countries, a statement said on Wednesday.

A meeting between Federation of p[akistan Chambers of Commerce and Industry (FPCCI) Senior Vice President Syed Mazhar Ali Nasir and his counterpart Sergey N Katyrin and vice president of the Chamber of Commerce and Industry of the Russian Federation at Moscow, agreed that the existing trade relations are not up to the desired level mainly due to the lack of interaction of the business communities of the two countries, it added.

Russia having rich experience in the field of industrial infrastructure and natural resources offered expertise to Pakistan for the improvement of the sectors such as infrastructure development, energy, oil and natural gas, rail and road network, meat and dairy processing industries in Pakistan.

Pakistan can meet their consumer demand by providing products such as fabrics, rice, garment, pharmaceuticals, leather and leather goods which are in high demand globally.