'Pakistan should supply more textiles to Russian market'

Russia has imposed economic sanctions on some countries, and exporters in Pakistan should utilise this opportunity to supply more textile products to Russian markets, said Yury M Kozlov, trade representative of the Russian Federation while addressing businessmen at Faisalabad Chamber of Commerce and Industry (FCCI) recently, as per Pakistani media reports.

Kozlov said that after the signing of the $2 billion gas pipeline project from Karachi to Lahore, over 50 Russian companies are looking for opportunities to invest in Pakistan. He added that Pakistan and Russia were making positive efforts to strengthen bilateral trade relations between the two countries.

Chaudhry Muhammad Nawaz, president, FCCI, said that there are high prospects of joint ventures between both the countries in the field of textiles, leather goods, live stock industry, oil and gas, agro-based industry, information technology, and tourism. Nawaz also said Pakistan can supply textile products like home textiles, readymade garments, and hosiery items to the Russian markets.

In his speech, Nawaz suggested establishing progressive banking channels between both the countries to increase exports from Pakistan and stressed the need for Free Trade Agreements (FTA) to improve the volume of bilateral trade. (HO)