Russia suggests closer cooperation in energy and agriculture sectors

During a meeting with Russian President Vladimir Putin on Wednesday, Prime Minister Shehbaz Sharif called for overcoming financial and banking problems between the two countries by resuming and expanding barter trade.

In his speech at a meeting on the sidelines of the Shanghai Cooperation Organisation (SCO) summit, Prime Minister Shehbaz recalled that in the 1950s and 1960s, Pakistan and Russia had bilateral trade and used the barter system.

“I think today is the time for us to overcome financial and other banking problems by renewing our trade and expanding it through barter,” Prime Minister Shehbaz told President Putin. “It will be very beneficial for Pakistan and we will be able to overcome many problems.”

The prime minister called for an increase in bilateral trade between the two countries, noting that it currently “reaches $1 billion”.

Speaking further about Pakistan-Russia relations, Prime Minister Shehbaz emphasised that he was “very happy” to inform that bilateral relations between the two countries have been developing positively for many years, calling it a “matter of great comfort”.

“I would like to work closely with you to further cement our relations,” Shehbaz told Putin. “We have a lot to do and we can benefit from your experience.” The prime minister stressed that diplomatic relations between Pakistan and Russia are based on strength.

“Our relations are neither driven by any geopolitical circumstances nor are they influenced by relations with other countries.” PM Shehbaz also recalled his September 2022 meeting with Putin in Uzbekistan – also on the sidelines of the SCO summit – and congratulated the Russian President on his re-election in March.

“I would like to congratulate you once again on your re-election and I am sure that the Russian Federation will continue to develop under your capable leadership,” the Prime Minister said.

“I would like to thank you for this opportunity and assure you on my behalf (and) on behalf of the Pakistani nation that we truly wish to further strengthen our relations,” Shehbaz concluded.

State-run PTV News also shared a photo of “delegation-level talks” between the two nations, which were also attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, Defence Minister Khawaja Asif and Information Minister Attaullah Tarar.

PTV News quoted Putin as saying: “Relations between Pakistan and Russia are excellent. Bilateral relations have further improved due to trade ties between the two countries.

“We can increase our cooperation in the energy and agriculture sectors. We will also increase cooperation with Pakistan in the food security sector,” he said.

In another post on X, PTV News reported that it was agreed to convene a meeting on intergovernmental cooperation between Pakistan and Russia in Moscow soon.

Prime Minister Shehbaz also invited Putin to pay an official visit to Pakistan at his earliest convenience, it added.