After MoUs signing, at the Prime Minister House, Prime Minister Shaukat Aziz and his visiting Russian counterpart, Mikhail Fradkov held a joint press conference here. They showed firm commitment to take bilateral trade to new heights saying that trade and economic co-operation between Pakistan and Russia was much less than actual potential.
Shaukat Aziz welcomed Russian companies' participation in tendering process for Pakistan Steel Mills Corporation (PSMC) expansion and lying down of Iran-Pakistan-India gas pipeline. He said work for both mega projects will be granted through a competitive process and the government will welcome Russian companies' participation. He said Pakistan was open for all kinds of investment and Russian companies should take its full advantage.
Russian Prime Minister stressed the need of exploiting trade potential between Pakistan and Russia for economic growth. Later on, he addressed the leading Pakistani businessmen at a luncheon meeting organised by Privatisation Minister Zahid Hamid.
Russia Prime Minister expressed firm commitment to enhance bilateral relations with Pakistan saying establishing a substantive economic agenda would mutually benefit the two countries. Fradkov termed his meeting with Prime Minister Shaukat Aziz an "important step" in strengthening bilateral relations between Pakistan and Russia with special focus on cementing economic ties. He urged the need for improving business-to-business contacts between the two countries for the exchange of essential trade information.
In his welcome address, Zahid Hamid said Pakistan attaches high importance to its relations with Russia and termed Russian Prime Minister's visit to Pakistan as an indication of the growing relationship based on mutual trust and co-operation. He welcomed Russian companies' participation in various sectors including oil and gas. He mentioned Gazprom interest for investing in Pakistan's oil and gas sector in particular. He said bilateral trade between the two countries presently stood at $520 million, which was in favour of Russia, adding there was a considerable scope for increasing Pakistan export to Russia.
DINNER RECEPTION
APP ADDS: Prime Minister Shaukat Aziz on Thursday said Pakistan and Russia will succeed in creating greater linkages and inter-dependencies to benefit of the people of the two countries and contribute towards further strengthening Pakistan-Russia ties. He was addressing a banquet hosted in honour of visiting Prime Minister of Russian Federation Mikhail Fradkov, which was attended by the members of the Russian delegation, federal ministers, high officials and diplomats.
Prime Minister Shaukat Aziz while referring to the visit of Russian Prime Minister to Pakistan after 40 years said it would pave the way to promote and strengthen the bilateral relations. He said: "Russia-Pakistan strategic partnership will not only serve our bilateral goals but is also in the interest of peace, progress and prosperity of our region."
Referring to the talks held in morning, Shaukat Aziz said, these talks have brought to the fore the close convergence of view between the two countries on a broad range of regional and global issues. The Russian Prime Minister Mikhail E. Fradkov, responding to the banquet speech of Prime Minister Shaukat Aziz said that his visit to Pakistan would further promote bilateral relations.