Enhancing Cooperation: Pakistan and Russia’s New Era

Pakistan and Russia have reaffirmed their commitment to enhancing cooperation, energy, connectivity, and food security ties. Both countries expressed interest in advancing discussions on a potential free trade agreement (FTA) between Pakistan and the Eurasian Economic Union (EEU), which includes Russia, Belarus, Kazakhstan, Kyrgyzstan, and Armenia.

The understanding was reached during delegation-level talks held in Islamabad, led by Russian Deputy Prime Minister Alexei Overchuk and Pakistan’s Deputy Prime Minister Ishaq Dar. The Foreign Office highlighted that the discussions covered a broad spectrum of cooperation, including trade, industry, energy, and education, acknowledging the positive momentum in relations over the past two decades.

Pakistan expressed its intention to deepen political, economic, and defense dialogues with Russia. Both sides also agreed to continue coordination at multilateral platforms, including the United Nations and the Shanghai Cooperation Organization (SCO).

During the meeting, a memorandum of understanding (MoU) was signed between the Pakistan Mercantile Exchange (PMEX) and the Saint Petersburg International Mercantile Exchange (SPIMEX), strengthening cooperation in trade. Additionally, Pakistan joined the MoU on the development of the International Transport Corridor, connecting Belarus, Russia, Kazakhstan, Uzbekistan, Afghanistan, and Pakistan.

At a joint press conference, Overchuk emphasized the discussions on a potential FTA with the EEU and expressed optimism for further talks. He noted the depth of discussions, which encompassed trade, energy, connectivity, education, and other sectors of mutual interest.

Overchuk also mentioned that Russian Prime Minister Mikhail Mishustin is expected to attend the SCO Heads of Government meeting in Islamabad next month. He underscored shared goals within the SCO, such as improving connectivity, increasing national currency transactions, and addressing food and energy security.

Pakistan’s Deputy Prime Minister Dar reiterated the importance of expanding bilateral trade, which reached $1 billion last year, and emphasized the potential for energy cooperation and connectivity projects, including rail and road networks. He also thanked Russia for supporting Pakistan’s bid to join the BRICS bloc.

Dar acknowledged the historical ties between Russia and the Muslim world, appreciating Russia’s stance on freedom of speech and religious respect. Both sides expressed their commitment to fostering peace and stability in Afghanistan and strengthening high-level contacts to further enhance bilateral relations.

Deputy Prime Minister Overchuk’s visit aligns with Prime Minister Shehbaz Sharif and President Vladimir Putin’s vision of transforming Pakistan-Russia relations into a solid economic partnership.