Pakistan, Russia vow to increase trade, investment, joint projects

Moscow: Russia and Pakistan Thursday vowed to increase trade, investment, pursue joint projects in energy, infrastructure development, metal industry, agriculture.

This was stated in joint communiqué issued after talks between President Dmitry Medvedev and President Asif Ali Zardari at the Kremlin. This enhanced cooperation will help develop strong bilateral relations.

Two Presidents stressed importance they attach to promote peace, stability in broader region. They welcomed signing of agreement in air transport, MOU between Pakistan’s Petroleum & Natural Resources Ministry & Russian Energy Ministry and cooperation in agriculture.

They had one-on-one meeting followed by delegations level talks on bilateral, regional, international issues. Both Presidents called for developing beneficial economic cooperation through Pakistani Russian Intergovernmental Commission on Trade, Economic, Scientific & Technical Cooperation that held its first meeting in Moscow in September 2010.

They underscored importance of peace, stability in Afghanistan and reaffirmed support for Afghan-led and Afghan owned efforts to promote national reconciliation in that country.

Expressing deep concern on threat of terrorism, drug related crime, they called for joint efforts to fight these which pose serious challenge to world peace, stability along whole chain of illegal production, distribution of drugs. They welcomed signing in October 2010 of agreement between two countries on cooperation in combating illicit trafficking of drugs, psychotropic substances and their precursors.

Presidents recognized need for promoting trans-regional economic, trade cooperation. Regional development projects will ensure prosperity for people and agreed to coordinate efforts bilaterally and through regional multilateral cooperative mechanisms. They expressed keen interest in implementing projects on creation of system to transmit electric power from Tajikistan to Afghanistan & Pakistan (CASA-1000) & Turkmenistan, Afghanistan, Pakistan, India TAPI gas pipeline.

Russia welcomed Pakistan’s involvement in activities of Shanghai Cooperation Organization SCO and gave support for Pakistan joining SCO along with other candidates subject to consent of all its members. They reiterated importance both countries attach to quadrilateral process (Russian Federation, Pakistan, Tajikistan & Afghanistan) and further interaction in this format in close cooperation with SCO.

They noted considerable progress made in political, security dialogues between their countries, including at top level. They commended Russian business community’s interest in participating with Pakistan government and businesses in economic, infrastructure, banking. Russia expressed willingness of its companies to cooperate with Pakistan. State owned enterprise Tyazhprome export is ready to take part in modernizing Pakistan Steel Mills, Karachi, Inter Raoues contribute to build energy generating facilities & Gazprom energy giant to develop gas fields in Pakistan. They agreed to study concept of currency change/ barter agreements, offer incentives based on regime mechanism to promote joint ventures.

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