Moscow, Russia (Agencies): Pakistan and Russia have signed eight agreements to strengthen their bilateral cooperation during the 9th Meeting of the Russia-Pakistan Intergovernmental Commission on Trade, Economic, Scientific, and Technical Cooperation. The meeting, held in Moscow, was co-chaired by Russian Energy Minister Sergey Tsivilev and Pakistani Power Minister Sardar Awais Ahmad Khan Leghari.
The agreements span sectors such as industrial cooperation, energy, education, medicine, and trade. Notably, the two sides agreed to collaborate on insulin production, marking a significant step in healthcare ties. Additionally, a Memorandum of Understanding (MoU) was signed between Pakistan’s New Tech and a Russian university to enhance academic and technological exchange. Further agreements involved COMSATS and Peshawar University partnering with Russian educational institutions to foster research and development.
Despite the progress, Federal Petroleum Minister Dr. Musadik Masood Malik clarified that no agreement had been reached on purchasing crude oil from Russia, dismissing earlier reports as unfounded. Dr. Malik also highlighted Pakistan’s current liquefied natural gas (LNG) surplus, citing reduced demand from private power producers.
The two nations agreed to convene the 10th Meeting of the Intergovernmental Commission in Pakistan in 2025, demonstrating a commitment to deepen economic and strategic ties.
Pakistan and Russia have significantly improved relations in recent years, transitioning from Cold War adversaries to emerging trade partners. Islamabad’s ambitions to become a transit hub for Central Asian economies have driven interest in enhancing connectivity with Russia through Central Asia.
Pakistan’s purchase of discounted Russian crude oil last year marked a turning point, helping mitigate soaring fuel prices. Bilateral trade between the two countries reached $1 billion in 2023, a substantial increase from the $580.8 million recorded in 2022, highlighting the growing economic collaboration.