Pakistan and Russia resolve 40-year-old trade dispute. Pakistan has paid Russia for the US $ 9 million to 35 million. Pakistan paved the way for Russia to invest $ 8 billion.
Pakistan and Russia crossed the important milestone in trade relations and the two countries resolved the 40-year-old trade dispute.
According to sources in the Commerce Ministry, Pakistan has paid US $ 9.5m to Russia, which has paved the way for a $ 8 billion Russian investment in Pakistan.
According to the Ministry of Commerce, Russian investment is for the steel and energy sectors.
According to sources, the payment of more than $ 200 million to 5 Pakistani companies has also begun and payment has been made to a Pakistani company. The rest of the companies are also in the process of being paid.
It is to be remembered that on December 11, 2019, Russia offered cooperation to restore Pakistan Steel Mills and increase its production capacity.
On December 11, 2019, the Pakistan-Russia Inter-Governmental Commission convened in Islamabad, chaired by Federal Minister for Economic Affairs Hamad Azhar and Russian Minister of Commerce Dennis Valentinovich.
Later addressing a joint press conference with Hamad Azhar, the Russian Minister of Commerce had said that we would assist Pakistan to restore steel mills and increase its productivity.
News report on Pakistan and Russia resolve 40-year-old trade dispute