Pakistan and Russia signed a Memorandum of Understanding (MoU) here on Wednesday to enhance bilateral economic and trade relations, said Pakistan’s Ministry of Foreign Affairs.<\/p>\n\n\n\n
The signing of the MoU was witnessed by Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar and Russia’s Deputy Prime Minister Alexey Overchuk, the ministry said in a statement.<\/p>\n\n\n\n
The MoU between the Pakistan Mercantile Exchange (PMEX) and Saint Petersburg International Mercantile Exchange (SPIMEX) aims to foster cooperation in economic and trade sectors.<\/p>\n\n\n\n
During the event, Pakistan also announced its accession to a crucial regional agreement, the MoU on the Creation and Development of the International Transport Corridor, which links Belarus, Russia, Kazakhstan, Uzbekistan, Afghanistan, and Pakistan.<\/p>\n\n\n\n
The corridor is expected to enhance connectivity and trade flows across the region, said the foreign ministry.<\/p>\n\n\n\n
Speaking at the event, Dar emphasized the significance of the agreements in strengthening Pakistan’s economic ties with Russia and enhancing regional trade routes.<\/p>\n\n\n\n
Overchuk stressed that the cooperation would pave the way for increased economic activities and mutual benefits for both countries.<\/p>\n\n\n\n
Dar also held delegation-level talks with the Russian counterpart, where the two sides agreed to pursue robust dialogue and cooperation in areas of trade, industry, energy, connectivity, science, technology, and education.<\/p>\n\n\n\n
The two sides also agreed to continue coordination on multilateral forums, said the ministry.<\/p>\n\n\n\n