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Pakistan’s decision to adopt BRICS model to avoid restrictions on trade with Russia

by Web Desk
August 19, 2024
in Business
Pakistan's decision to adopt BRICS model to avoid restrictions on trade with Russia
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ISLAMABAD: A meeting of the Inter-Governmental Commission between Pakistan and Russia has been convened which is likely to be held on August 27 and 28 in Moscow.

According to the sources, issues related to trade, energy and security will be discussed in the meeting.

It has been decided to adopt the Turkey and BRICS model to avoid restrictions on trade with Russia while taking guidance from the State Bank on trade and business with Russia. Negotiations on trading in local currency and barter trade plans will also be considered.

Three sets of documents covering the G2G framework and projects, BTB cooperation, secure trade and business practices will be presented to the Russian delegation.

Sources say that a decision has not yet been made whether to share Pakistan Steel Mills matters with Russia or not.

Russian expertise in laying power transmission lines for ongoing hydel projects at high altitudes and in adverse weather conditions is likely to be discussed.

Discussions on various routes for railways between Pakistan and Russia are also expected. The Quetta Taftan railway project has already been signed while the second route is to connect Afghanistan and Central Asian countries to Kohat-Kharlachi railway.

Russia offered to meet crude oil and energy needs.

Tags: commissiongovernmentinternationalNationaltime line news
Web Desk

Web Desk

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