ISLAMABAD: Russian Foreign Minister Sergey Lavrov is likely to visit Pakistan during second week of April 2021, with the aim to strengthen bilateral cooperation in different fields, well informed sources told Business Recorder.
The visit, which is the first high-level from Russia to Pakistan since 2012, will also focus on cooperation in defence and energy sector.
The sources said payment of defence contracts through a non-sanctioned Russian LLC had been approved by Russian Federal Service for Military Technical Cooperation (FSMTC). SBP and Ministry of Defence Production are to work out a sanctions-free transaction mechanism to ensure smooth operations of the contract.
Both sides will hold discussion to finalise agreement on international security. The Russian draft of the agreement was shared with the concerned Ministries by the National Security Division (NSD) for views which has forwarded the draft agreement along with the views of relevant departments to Ministry of Foreign Affairs.
The sources said both sides would also discuss draft of the agreement shared by Russian side with Pakistani Mission in 2017.
Cooperation in energy sector will be one of the key areas during discussion between the delegations of both sides.
“Pakistan Stream Pipeline” is currently being finalised by the concerned departments and enterprises of Pakistan and Russia. At the most recent meeting of the technical committee for the project held on December 23, 2020, the Terms of Reference (ToRs) of the Russia-Pakistan Special Purpose Vehicle (SPV) were discussed by stakeholders. Ministry of Energy (Petroleum Division) also held a round of energy consultations on Pakistan Stream Pipeline with Russian counterpart on March 17, 2021 in an online format.
Other energy related projects which will come under discussion, will be as follows: (i) conclusion of agreements on LPG Air Mix Plants; (ii) feasibility study of undersea gas pipeline from Iran to India via Pakistan; (iii) discussion on thermal power plant Muzaffargarh and combined plant, Jamshoro.
For import of ‘Sputnik V’ Covid-19 vaccine from Russia, Drug Regulatory Authority of Pakistan (DRAP) has requested for confirmation of sole authorized distributor for Pakistan. Sole use authorisation was forwarded to Ministry of National Health Services, Research and Coordination by Ministry of Foreign Affairs.
Both sides are also expected to discuss potential of opening of banks branches, direct cargo flights, lifting of ban on Pakistani rice, deal on civil aircrafts and helicopters, delivery and maintenance and repair of Pakistani railways/ transport.
During the first meeting of JWG on trade and investment it was discussed that both sides would encourage participation of their companies in exhibitions as well as send trade delegations for the purpose of strengthening bilateral trade relations.
Pakistani and Russian companies through B2B contact may explore possibility of joint ventures particularly in the SEZs notably in textiles, food processing, surgical instruments, leather and sports industry.
Pakistan will float the proposal on possibilities of opening of correspondent accounts, branches and subsidiaries by the private sector banks of the two countries.
The sources said the Federal Service for Veterinary and Phytosanitary Surveillance of Russian Federation had imposed a temporary ban on the import of grain (mainly rice) from Pakistan since May, 2019. This ban is still in place despite exchange of information between the experts of FSVPS and Department of Plant Protection Pakistan. Pakistani team will urge Russian delegation for early resolution of this issue.
The Russian side has proposed review of the current state of trade and economic cooperation and sought cooperation in the sphere of industry and energy, delivery and maintenance of civil aircraft and helicopter equipment, modernization and repair of Pakistani railways transport, car deliveries, constructions and modernization of industrial facilities in Pakistan, metallurgical, chemical, pharmaceutical industry, supply of organic fertilizers, power engineering, geological exploration works, training and professional development of Pakistani specialists in the sphere of oil and gas, cooperation in the sphere of agriculture, veterinary and sanitary requirements for livestock products imports into Pakistan and vice versa.
Both sides will discuss inspection by the Federal Service for Veterinary, Phytosanitary Surveillance of Russian Federation and Ministry of National Food Security and Research of Pakistan to assess the system of veterinary supervision, production of vaccines for animals, and enterprises in each other’s countries producing products of animal origin.
Copyright Business Recorder, 2021
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