LAHORE: The volume of bilateral trade between Pakistan and Russian Federation reached $ 2035.54 million during last five years.
Of the total, Pakistan’s exports volume to the Russian Federation was $951.37 million while the import volume from the Russian Federation was $ 1,084.17 million during the period.
Giving break-up of trade between the two countries, sources at Commerce Division said during 2010-11, Pakistan’s export volume to Russia was $ 183.57 million, in 2011-12 $ 189.61 million, in 2012-13 $ 207.31 million, in 2013-14 $ 187.04 million and during 2014-15 the exports volume reached $ 183.84 million.
With regard to imports from Russia, the sources said during 2010-11 the amount of imports volume from Russia was $ 163.42 million, in 2011-12 $ 202.05 million, in 2012-13 $ 277.17 million, in 2013-14 $ 235.08 million and the volume touched $ 206.45 million mark in 2014-15.
The sources while highlighting the steps being taken by government to improve the said volume of trade between the two countries said Trade Development Authority of Pakistan (TDAP) arranged participation of 12 exporters from agricultural sector in World Food Moscow exhibition to help them introduce and capture Russian market.
Moreover, in order to get competitive market access in Russian Federation by lowering customs duties applicable on Pakistani goods, Ministry of Commerce has asked Ministry of Foreign Affairs to request Eurasian Economic Union for initiation of talks for a Free Trade Agreement (FTA).
