Pakistan and Russia have recently signed a significant Memorandum of Understanding (MoU) aimed at enhancing bilateral cooperation in the fields of economy and trade. The signing ceremony took place at the Ministry of Foreign Affairs in Islamabad, with Deputy Prime Minister/Foreign Minister Ishaq Dar and Russian Deputy Prime Minister Alexei Overchuk in attendance.
The MoU was formalized between the Pakistan Mercantile Exchange (PMEX) and the Saint Petersburg International Mercantile Exchange (SPIMEX). Farhan Tahir, Acting Managing Director of PMEX, signed on behalf of Pakistan, while Igor Artemyev, President of SPIMEX, represented Russia.
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In addition to the bilateral trade agreement, Pakistan has announced its accession to the MoU on the Creation and Development of the International Transport Corridor linking Belarus, Russia, Kazakhstan, Uzbekistan, Afghanistan, and Pakistan. This accession was formalized by Ali Sher Mahsud, Secretary of the Ministry of Communication, on behalf of Pakistan.
These agreements mark a significant step in strengthening economic ties between Pakistan and Russia, fostering greater trade and cooperation. The addition of Pakistan to the International Transport Corridor MoU also underscores its strategic role in regional connectivity.
