Russia has agreed to supply Pakistan with state-of-the-art agricultural machinery to improve crop yields and boost agricultural productivity.
This announcement was made by Russian Deputy Minister of Industry and Trade, Aleksei Gruzdev, during his meeting with Pakistan’s Minister for Industries, Production, and National Food Security, Rana Tanveer Hussain, in Islamabad.
Both sides highlighted the importance of balanced trade relations, with Rana Tanveer emphasizing Pakistan’s need for modern equipment to enhance its farming output. He assured that the Pakistani government would fully support Russian investors operating in the country.
Additionally, a Memorandum of Understanding (MoU) was signed to expand bilateral cooperation in trade and economic matters. The agreement was witnessed by Pakistan’s Deputy Prime Minister and Foreign Minister, Senator Mohammad Ishaq Dar, alongside Russia’s Deputy Prime Minister, Alexei Overchuk.
The MoU between the Pakistan Mercantile Exchange (PMEX) and the Saint Petersburg International Mercantile Exchange (SPIMEX) was signed by Farhan Tahir, Acting Managing Director of PMEX, and Igor Artemyev, President of SPIMEX.
Moreover, Pakistan officially joined the initiative to develop the International Transport Corridor connecting Belarus, Russia, Kazakhstan, Uzbekistan, Afghanistan, and Pakistan.