ISLAMABAD: Russia on Thursday agreed to supply modern agricultural machinery to Pakistan in an effort to boost crop yields and improve agricultural productivity.
This was announced by Russian Deputy Minister of Industry and Trade, Aleksei Gruzdev, during a meeting with Pakistan’s Minister for Industries, Production, and National Food Security, Rana Tanveer Hussain, in Islamabad.
Both ministers emphasized the need for balanced trade relations between the two countries. Rana Tanveer underscored the importance of modernizing Pakistan’s agricultural sector, stating that the government would provide all necessary support to Russian investors.
Additionally, Pakistan and Russia have signed a Memorandum of Understanding (MoU) aimed at enhancing bilateral cooperation in the areas of trade and economy. The MoU signing ceremony was attended by Deputy Prime Minister and Foreign Minister Senator Ishaq Dar and Russian Deputy Prime Minister Alexei Overchuk.
The agreement between the Pakistan Mercantile Exchange (PMEX) and the Saint Petersburg International Mercantile Exchange (SPIMEX) was signed by PMEX Acting Managing Director Farhan Tahir and SPIMEX President Igor Artemyev. Furthermore, Pakistan has joined the MoU on the Creation and Development of the International Transport Corridor, linking Belarus, Russia, Kazakhstan, Uzbekistan, Afghanistan, and Pakistan.
