Trade ties with Russia to boost Pakistan textile exports

31 Dec '13

2 min read

Russia’s interest in enhancing bilateral trade ties with Pakistan can greatly help Pakistan to boost its textile and clothing exports to Russia.

During his recent visit to the Faisalabad Chamber of Commerce and Industry (FCCI), Yuri Kozlov, head of Trade Representative of Russian Federation, expressed interest in enhancing bilateral trade with Pakistan and stressed on boosting economic and technical cooperation between the two countries, reports Business Recorder.

FCCI president Engr Suhail bin Rashid said Russia greatly depends on imports for textile and clothing items which totals to around US$ 10.78 billion, however Pakistan meagerly contributes a US$ 100 million share in this market at present.

He also highlighted that Faisalabad has grown to be the 'Textile Capital of Pakistan' from 'Textile Manchester', contributing around half the country’s textile exports. Enhanced trade ties with Russia can help the province as well as the country to boost its exports to Russian market.

In this context, Mr. Rashid set forth proposals for regular exchange of business information and trade delegations to facilitate enhanced bilateral trade between the two countries.

Responding positively to the proposal Russian envoy noted that Russian firms are investing in energy sector in Pakistan to help the country to rise above the energy crisis.

The envoy even pledged to make way for promotion of smooth trade between the two countries by making efforts for removing the hurdles.

Earlier last year Mr. Muhammad Farooq Afzal, chairman, Pak-Russia Business Council said lack of Government support or encouragement is keeping Pakistani exporters away from boosting their exports to Russia.

Fibre2fashion News Desk - India

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