https://sputniknews.in/20240816/pakistan-russia-trade-to-grow-gradually-after-transport-routes-completed-minister-8022241.html
Pakistan-Russia Trade to Grow Gradually After Transport Routes Completed: Minister
Pakistan-Russia Trade to Grow Gradually After Transport Routes Completed: Minister
Sputnik India
MOSCOW (Sputnik) - Trade between Russia and Pakistan is expected to grow in the coming years after the corresponding transport corridors and sea routes are... 16.08.2024, Sputnik India
2024-08-16T15:44+0530
2024-08-16T15:44+0530
2024-08-16T15:44+0530
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Pakistan is currently working to complete the China-Pakistan Economic Corridor (CPEC), which is part of Beijing's Belt and Road Initiative and will be instrumental in transit trade between China, Pakistan, Afghanistan, Central Asia and Russia, the minister said, adding that this route was expected to become operational within two to three years. Furthermore, additional facilities are under construction in Pakistan's ports of Gwadar and Karachi, which is attracting the attention of some Central Asian countries for transit trade as well, he said. He added that Pakistan had not faced any sanctions for trading with Russia. Pakistan is not planning to be in any political blocs, but has recently applied to join BRICS and is expecting an invitation to the BRICS summit in Russia's Kazan in October, Sheikh said. In June, Pakistani Ambassador to Russia Muhammad Khalid Jamali said that Pakistan had accepted Russia's invitation to join the International North-South Transport Corridor (INSTC). The INSTC is a multimodal route for transporting passengers and cargo from Asian countries to Europe via Russia. It will connect Russia, Azerbaijan, Iran and India.
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russia, pakistan, karachi, brics, international north-south transport corridor (instc), south asia, central asia, china-pakistan economic corridor (cpec), trade corridor, multipolar world
russia, pakistan, karachi, brics, international north-south transport corridor (instc), south asia, central asia, china-pakistan economic corridor (cpec), trade corridor, multipolar world
Pakistan-Russia Trade to Grow Gradually After Transport Routes Completed: Minister
MOSCOW (Sputnik) - Trade between Russia and Pakistan is expected to grow in the coming years after the corresponding transport corridors and sea routes are completed, Pakistani Maritime Affairs Minister Qaiser Ahmed Sheikh told Sputnik.
"Russia is a huge market. We are very much interested to enhance our trade links and that of maritime links also. But you see, in the country's economy, it takes time and it will be gradually," Sheikh said.
Pakistan is currently working to complete the China-Pakistan Economic Corridor (CPEC), which is part of Beijing's Belt and Road Initiative and will be instrumental in transit trade between China, Pakistan, Afghanistan, Central Asia and Russia, the minister said, adding that this route was expected to become operational within two to three years.
Furthermore, additional facilities are under construction in Pakistan's ports of Gwadar and Karachi, which is attracting the attention of some Central Asian countries for transit trade as well, he said.
"Gwadar is a deep-sea port and is a very good route for Central Asian countries and Russia even to South China ... [Central Asian states] are now taking some interest also in Karachi port. Recently, a ship vessel of containers for Central Asian countries has been unloaded at Karachi very recently last week. Some Central Asian countries are now seeing Karachi port as their transit up to Central Asian countries. Of course, when the Gwadar road link will be completed, it will be more economical and more convenient," Sheikh said.
He added that Pakistan had not faced any sanctions for trading with Russia.
Pakistan is not planning to be in any political blocs, but has recently applied to join BRICS and is expecting an invitation to the BRICS summit in Russia's Kazan in October, Sheikh said.
In June, Pakistani Ambassador to Russia Muhammad Khalid Jamali said that Pakistan had accepted Russia's invitation to join the International North-South Transport Corridor (INSTC). The INSTC is a multimodal route for transporting passengers and cargo from Asian countries to Europe via Russia. It will connect Russia, Azerbaijan, Iran and India.
