Pakistani Prime Minister Shehbaz Sharif met Russian President Vladimir Putin on the sidelines of SCO Summit in Astana.
The leaders discussed the prospect of renewing their economic partnership.
Sharif said he was happy with improving bilateral relations between Pakistan and Russia over the last several years, calling them "a matter of great comfort" for his state.
"We have a lot to do, and we can benefit from your experiences, as well as enhance our trade, which is now touching $1 billion," Sharif added. "On my request, you were very kind to promote cooperation in the energy sector, and we received a shipment of oil from your great country. I am very grateful for that, and we really need to continue in this direction."
He stressed that it was the right time for Pakistan to overcome its financial and banking challenges by reviving and expanding its trade through barter systems.
That approach would be highly beneficial for the country and enable it to address other pressing issues, Sharif said, adding that the government wants to work closely with Putin to strengthen their relationship.
"We have enjoyed a cordial relationship with each other for a decade, and it has been steadily growing and progressing. We are truly delighted," Putin said. "I believe our meeting today will further strengthen our bilateral ties."
Moreover, it was agreed that the next meeting of the states' Intergovernmental Cooperation Commission would be convened in Moscow at the earliest possible date. Sharif also extended an invitation to Russian president to undertake an official visit to Islamabad at his earliest convenience, according to a press release by Pakistan's Ministry of Information and Broadcasting.
Meanwhile, the Prime Minister congratulated Putin on his re-election, expressing confidence that Russia would continue to progress under his leadership.
This year's SCO summit is being held in the Kazakhstan's capital Astana from July 3 to 4, with the theme of "Strengthening Multilateral Dialogue – the Pursuit of Sustainable Peace and Development."
Participants are expected to sign a package of 24 joint documents and adopt a final declaration affirming the SCO member states' commitment to good neighbourliness and unity.