MOSCOW: Preferential Trade Agreement proposal must be extensively discussed during the upcoming Pakistan-Russia Inter-Governmental Commission meeting, said Ahmad Jawad, Chairman, Standing Committee on Horticulture and Food Exports, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) here on Thursday. Talking to Minister Counsellor of the Embassy of Russian Federation, Dr Alexander G.Khozin, he said under the existent scenario preferential trade agreement and availability of banking channels were prerequisite to boost bilateral trade between Russia and Pakistan.
Ahmad Jawad was of the opinion that bilateral trade between Russia and Pakistan needed to be streamlined and complimented practically so as to tap the huge potential.
Recalling that Russian food and agriculture imports which stood at $43 billion last year, he said room for growth is available in the sector of Kinnow (mandarin), potato and other horticulture products in the wake of Russian ban on import of food items from EU countries.
“Since major imports in Russia comprise beef products, dairy products, citrus, tomatoes, potatoes, tobacco, fish, apples, pears and others.
Pakistan hold all chances to tap available opportunities and achieve maximum space through effective marketing strategy,” said the Chairman, FPCCI’ Standing Committee on Horticulture and Food Products. “The trade between the two countries currently stood around $500 million and this has to be increased,” said Ahmad Jawad.
“This year only Pakistan’s export to Russia grew upto 4 percent and it mainly comprised agriculture based products,” he added.
The senior businessman said Pakistan has the potential to penetrate up to 100,000 tons of mandarin in the forthcoming season and that private sector of the two countries may interact on priority through the help of Trade Representation of the Russian Federation in Pakistan.
