Tirmizi calls for greater private-sector engagement with Russian counterparts

ISLAMABAD: Pakistan’s Ambassador to the Russian Federation, Faisal Niaz Tirmizi, on Wednesday stressed the need for greater private-sector engagement with Russian counterparts to translate shared economic interests into tangible commercial gains.

During his visit to Islamabad Chamber of Commerce and Industry (ICCI) where he met with ICCI President Mohammad Zikria Akbar Zia, Tirmizi said that Pakistan and Russia should move beyond untapped trade opportunities and forge strong, result-oriented business partnerships to unlock their immense potential for bilateral trade, investment and industrial cooperation.

Highlighting promising avenues for collaboration, the Ambassador identified healthcare, pharmaceuticals, agriculture, food security, tourism, sports goods and surgical instruments as key sectors offering opportunities for mutually beneficial trade and investment, saying private sectors of both the country can benefit from each other’s expertise.

Emphasizing practical measures to strengthen commercial ties, Tirmizi called for easier visa procedures, direct air connectivity and effective solutions to banking and payment-related challenges. He also discussed preparations for a bilateral business forum, including advance meetings between companies to identify potential partners and develop concrete business proposals. Improved transport connectivity through Iran, Afghanistan and China was also highlighted as an important means of facilitating bilateral trade.

He stressed the importance of expanding cooperation in education, science, engineering and agricultural research through university partnerships and greater student mobility.

ICCI President Mohammad Zikria Akbar Zia emphasized the need to establish joint ventures between Pakistani and Russian entrepreneurs, particularly in the power, steel and other industrial sectors. He said regular business-to-business meetings and stronger institutional cooperation could help translate bilateral opportunities into viable investment projects, facilitate technology transfer and promote industrial development in both countries.

The ICCI President also called for consistent, long-term economic policies in Pakistan, formulated in consultation with the private sector, particularly the leadership of chambers of commerce and industry. He observed that policy continuity, a predictable regulatory environment and effective government-business coordination were essential to attracting investment, strengthening industrial competitiveness and building sustainable international trade partnerships. Senior Vice President Mohammad Ashfaq Hussain Chattah also stressed the importance of sustained diplomatic engagement and practical business cooperation to strengthen economic relations between Pakistan and Russia.

Copyright Business Recorder, 2026