ISLAMABAD: Trade Development Authority of Pakistan (TDAP) has arranged participation of 12 exporters from agricultural sector in World Food Moscow Show to improve volume of trade with Russia.
The other objective of the participation was to help exporters introduce and capture Russian market. Sources at TDAP on Friday said the Authority is also arranging participation of 15 exhibitors in International Sports Exhibition in Moscow this year.
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The sources said to get competitive market access in Russian Federation by lowering the customs duties applicable on Pakistani goods, Ministry of Commerce has requested Ministry of Foreign Affairs to request Eurasian Economic Union for initiation of talks for a Free Trade Agreement.
Another event is Heimtextil Moscow – a leading exhibition for textile products and TDAP arranges participation of Pakistani exporters in this exhibition every year.
Regarding bilateral trade between Pakistan and Russian Federation in last 5 years, the sources said that during 2010-11 Pakistan’s exports to Russian Federation were $183.57 million, Pakistan’s imports from Russian Federation were $163.42 million while total volume of trade was $346.99 million.
During 2011-12, Pakistan’s exports to Russian Federation were $189.61 million, Pakistan’s imports from Russian Federation were $202.05 million and total volume of trade was $391.67 million.
Similarly, the data for 2012-13 showed that Pakistan’s exports to Russian Federation were 207.31 million, Pakistan’s imports from Russian Federation were $277.17 million and total volume of trade was $484.482 million.
During 2012-13, Pakistan’s exports to Russian Federation were $187.04 million, Pakistan’s imports from Russian Federation were $235.08 million while total volume of trade was $422.11 million.
Moreover, the sources said during 2013-14, Pakistan’s exports to Russian Federation were $187.04 million, Pakistan’s imports from Russian Federation were $235.08 million while total volume of trade was $422.11 million.
During 2014-15, Pakistan’s exports to Russian Federation were $183.84 million, Pakistan’s imports from Russian Federation were $206.45 million and total volume of trade was $390.29 million.
The sources said Pakistan and Russian Federation have no signed any trade agreement in last three years. Russian Federation is a member of Eurasian Economic Union (EEU), which is a customs union of Russian Federation and other former soviet states.
In order to gain competitive market access in EEU, Ministry of Commerce in consultation with Ministry of Foreign Affairs is reaching out to EEU to initiate a dialogue for a Free Trade Agreement. A seminar was also arranged by TDAP to create awareness among the exporters.
