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Russia show interested in Pakistan’s power, automobile industry

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Islamabad: Russian investors shows their interest to invest in power and automobile sector of Pakistan.
A delegation of Russian traders, headed by Ildar Mingaleev, Deputy Minister Ministry of Industry and Trade of the Republic of Tatarstan, visited the Islamabad Chamber of Commerce and Industry (ICCI), showing their interest in investing in Pakistan’s energy and automobile sectors.

“The delegation has held discussions with Pakistan Petroleum Limited (PPL) and Oil and Gas Development Company (OGDC) to research the chance of combined projects in the oil and gas search field,” said Mingaleev.

Russian traders are also thinking about investing and coming into combined projects for the production of heavy-duty trucks, cars along with specialist automobiles, shipbuilding and production of gas generators and compressors. “Russia has produced free economic zones with concrete tax advantages to foreign investors,” he said and recommended “Pakistani traders should established textile units in Russia to catch the large regional market.”

The Trade Development Authority of Pakistan is preparing to take a business delegation to Russia and ICCI associates will also be element of the delegation which will search for opportunities.Talking on the event, ICCI President Atif Ikram Sheikh said Russia was a crucial country with which Pakistan desired to produce close relationships.

“Cooperation with Russia is essential to attaining Pakistan’s objective of much better do business with Central Asia,”He pointed out power shortage is a serious problem facing Pakistan with the result that the industry suffered and asked Russia to assist in defeating the issue by discovering investment and partnership paths in the field.

“Pakistani items such as textiles, surgical instruments, leather items, fruits and vegetables and others have great opportunity in Russia,” he stressed, suggesting consistent exchange of trade delegations that could ex An official of the Ministry of Commerce said delegations of businessmen and government authorities would visit Russia, Belarus and other Central Asian countries to improve business connection in the particular markets.

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