Monday, September 26, 2005
PM to visit Russia, may sign FTA
ISLAMABAD: Pakistan agreed on Sunday to eventually sign a free trade agreement (FTA) with Russia, as Prime Minister Shaukat Aziz is set to visit the country soon.
Sources said Russia had approached Pakistan in March 2005, seeking to enhance trade relations between the two sides, and Pakistan has given positive indications to enter into further trade leading to the FTA. Aziz’s visit to Russia will pave the way to the FTA between Pakistan and Russia, the sources said.
The Pakistani government has told Russia the enhancement of trade between the two countries was on the top of its agenda, and pledged to boost bilateral trade that will help materialise the FTA.
During the president’s visit, Russia and Pakistan had signed three agreements on security, cultural and diplomatic cooperation.
In July 2002, Pakistan and Russia reportedly signed a memorandum of understanding in Moscow to allow Russian natural gas company Gazprom to join the multibillion dollar project to build the Iran-Pakistan-India (IPI) gas pipeline.