ISLAMABAD (APP): The Coordinator to Federal Tax Ombudsman Meher Kashif Younis Sunday said recently inked Pakistan-Russia deal on trade and investment agreements will have positive impact on Pak economy.
He said it will help in promoting bilateral trade, attracting foreign direct investment, and fostering economic cooperation.
Talking to a delegation of industrialists led by Faran Shahid he said Increased trade between Pakistan and Russia could lead to expanded market opportunities for Pakistani businesses, especially in sectors of textiles, agricultural products, and pharmaceuticals, said a press release. The agreement could also facilitate the exchange of technology, knowledge, and expertise between the two countries, which could have long-term benefits for Pakistan’s economy, he observed.
He said it could help boost economic growth and create employment opportunities as such investments can enhance the country’s industrial capabilities and contribute to the development of key sectors.
He said historically, Pakistan and Russia have had economic and diplomatic relations that have evolved over time. He said this protocol will serve as a vital legal framework for the development of commercial relations between the two nations.
Meher Kashif Younis who is also Vice President Gold Ring Economic Fourm, a strategic think tank said in addition to facilitating the smooth movement of goods between Pakistan and Russia, the protocol will also offer a substantial customs duty discount for Pakistani products upon entering the Russian market.
He said Pakistan and Russia have witnessed significant improvement as a result of numerous meetings held between high-ranking officials from both sides, particularly regarding the oil and gas trade.
Pak-Russia trade deal to put positive impact
