In a significant step towards strengthening economic and trade ties, Pakistan and Russia have signed a Memorandum of Understanding (MoU) for bilateral cooperation. The signing ceremony took place at the Ministry of Foreign Affairs in Islamabad and was witnessed by Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar, along with Russian Deputy Prime Minister Alexei Overchuk.

The MoU between the Pakistan Mercantile Exchange (PMEX) and the Saint Petersburg International Mercantile Exchange (SPIMEX) was signed by Acting Managing Director of PMEX, Farhan Tahir, and President of SPIMEX, Igor Artemyev. This agreement aims to foster collaboration between the two exchanges, enhancing trade and economic activities.

Additionally, Pakistan announced its accession to the MoU on the Creation and Development of the International Transport Corridor, which includes Belarus, Russia, Kazakhstan, Uzbekistan, Afghanistan, and Pakistan. The instrument of accession was signed by Ali Sher Mahsud, Secretary of the Ministry of Communication, representing Pakistan.

These agreements mark a significant development in Pakistan’s efforts to boost international trade and economic cooperation with Russia and other regional partners.