https://sputniknews.in/20240315/pakistan-fruit-exports-to-russia-over-land-route-to-boost-islamic-republics-self-sufficiency-6821174.html
Pakistan Fruit Exports to Russia Over Land Route to Boost Islamic Republic’s Self-Sufficiency
Pakistan Fruit Exports to Russia Over Land Route to Boost Islamic Republic’s Self-Sufficiency
Sputnik India
This week, after a long endeavour, Pakistan has achieved a significant milestone in trade by successfully transporting fruits to Russia via a land route, highlighting a remarkable achievement in bilateral relations and economic development.
2024-03-15T14:13+0530
2024-03-15T14:13+0530
2024-03-15T14:20+0530
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In this regard, Pakistan’s National Logistics Corporation (NLC) made this possible, especially by effectively transporting a shipment of 'Kinnow fruit' to Russia. However, beginning their journey from Sargodha, 16 NLC vehicles set out on a 6,000-kilometre expedition, with 14 vehicles reaching Derbent and 2 arriving in Grozny, Russia, as per media report.According to Pakistani media, the warm welcome that Derbent gave to the NLC convoy indicates significant potential for trade growth between the two countries. Pakistan-Russia Trade: A Major DevelopmentIn April 2023, Pakistan placed its first discounted crude oil order from Russia, marking a new agreement between the two nations. This time, the launch of shipping services has transformed trade relations, offering vast business opportunities and the potential to increase bilateral trade to $20 billion.The direct cargo service has significantly reduced shipping time to just eighteen days, whereas the NLC referral service ensures fresh produce delivery by addressing cold chain issues. Furthermore, the NLC has successfully delivered various commodities to neighbouring countries, strengthening regional trade ties.He further added, "Given Pakistan's current economic instability, the initiative not only supports the production of fresh fruits and goods within the country but also contributes to Pakistan becoming self-reliant and self-sufficient. This development is expected to bolster the nation's economy significantly."Strategic Trade Expansion & Enhancing Regional ConnectivityPakistan's plan to use land routes to deliver fruits to Russia could be very profitable for the economy. This smart move fits with the country's goal to boost trade between the two nations, despite the fact that the economy is struggling. As Pakistan tries to get more foreign capital, especially from the Middle East, and build up its reserves, projects like the NLC's land route to Russia are very important for expanding trade and boosting economic growth. In addition, the direct cargo service to Russia is likely to make Pakistan's exports much better, which could add up to USD$2.5 billion to trade between the two countries in the near future.While talking about the route and export, he told Sputnik, "If we look at the path and export cycle through this channel, I think it's clear that this progress is not only making Pakistan's relationships with Russia and Central Asian countries stronger, but it's also giving the economy a big boost."
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Pakistan Fruit Exports to Russia Over Land Route to Boost Islamic Republic’s Self-Sufficiency
14:13 15.03.2024 (Updated: 14:20 15.03.2024) This week, after a long endeavour, Pakistan has achieved a significant milestone in trade by successfully transporting fruits to Russia via a land route, highlighting a remarkable achievement in bilateral relations and economic development.
In this regard, Pakistan’s National Logistics Corporation (NLC) made this possible, especially by effectively transporting a shipment of 'Kinnow fruit' to Russia. However, beginning their journey from Sargodha, 16 NLC vehicles set out on a 6,000-kilometre expedition, with 14 vehicles reaching Derbent and 2 arriving in Grozny, Russia, as per media report.
According to Pakistani media, the warm welcome that Derbent gave to the NLC convoy indicates significant potential for trade growth between the two countries.
Pakistan-Russia Trade: A Major Development
In April 2023, Pakistan placed its
first discounted crude oil order from Russia, marking a new agreement between the two nations. This time, the launch of shipping services has transformed trade relations, offering vast business opportunities and the potential to increase bilateral trade to $20 billion.
The direct cargo service has significantly reduced shipping time to just eighteen days, whereas the NLC referral service ensures fresh produce delivery by addressing cold chain issues. Furthermore, the NLC has successfully delivered various commodities to neighbouring countries, strengthening regional trade ties.
"In recent years, Pakistan has made significant efforts to enhance its relationship with Russia. This includes initiatives such as importing wheat and oil from Russia. Of particular importance is the ongoing engagement between the two countries, marked by confidence-building measures to strengthen diplomatic ties," Mian Ahmad Naeem Salik, a global economic analyst & researcher associated with the Institute of strategic studies Islambad, told Sputnik.
He further added, "Given Pakistan's current economic instability, the initiative not only supports the production of fresh fruits and goods within the country but also contributes to Pakistan becoming self-reliant and self-sufficient. This development is expected to bolster the nation's economy significantly."
Strategic Trade Expansion & Enhancing Regional Connectivity
Pakistan's plan to use land routes to deliver fruits to Russia could be very profitable for the economy. This smart move fits with the country's goal to boost trade between the two nations, despite the fact that the economy is struggling. As Pakistan tries to get more foreign capital, especially from
the Middle East, and build up its reserves, projects like the NLC's land route to Russia are very important for expanding trade and boosting economic growth.
In addition, the direct cargo service to Russia is likely to make Pakistan's exports much better, which could add up to USD$2.5 billion to trade between the two countries in the near future.
"A notable milestone in this regard is Pakistan's fruit exports through a land route from Iran to Central Asian countries and onwards to Russia, which is contributing to the development of economic relations between the nations," he expressed.
While talking about the route and export, he told Sputnik, "If we look at the path and export cycle through this channel, I think it's clear that this progress is not only making Pakistan's relationships with Russia and Central Asian countries stronger, but it's also giving the economy a big boost."
