FAISALABAD: The Russian Federation will extend all possible support to enhance bilateral trade with Pakistan, said Denis Nazaroof, Trade Representative of the Russian Federation, while addressing the business community at the Faisalabad Chamber of Commerce and Industry (FCCI).
He noted that despite uncertainty in the global economy, there are strong opportunities for stable growth in economic and trade relations between Russia and Pakistan. Referring to the 10th session of the Russia-Pakistan Intergovernmental Commission (IGC) on Trade, Economic, Scientific, and Technical Cooperation, he said that the Russia-Pakistan Business Forum was also held on the sidelines of the meeting. More than 40 Russian and Pakistani companies from the energy, IT, and agriculture sectors participated in the forum.
He added that efforts are underway to boost trade, reduce non-tariff barriers, and simplify customs procedures. The Russian trade representative highlighted progress in enhancing cooperation in the pharmaceutical and medical sectors, including increasing mutual supplies of medicines and medical equipment, localizing production in Pakistan, and establishing joint ventures.
He further stated that Russia is ready to assist in the mechanization of Pakistan’s agriculture sector. Russian producers have also expressed willingness to supply modern agricultural machinery, as well as equipment for the construction and food industries. He emphasized that relevant companies are being facilitated to establish direct contacts and finalize concrete agreements for mutual benefit.
Denis Nazaroof announced that the 17th International Economic Forum “Russia–Islamic World: Kazan Forum” will be held in May, followed by Russia’s industrial trade fair INNOPROM-2026 in July. He invited Pakistani businessmen to participate in these events to further strengthen bilateral relations. He also mentioned that Pakistan has recently exported potatoes to Russia and noted that global textile brands are entering the Moscow market, urging Faisalabad exporters to take advantage of this opportunity.
Earlier, FCCI President Farooq Yousaf Sheikh, in his welcome address, said that Faisalabad is Pakistan’s third-largest city and ranks second in revenue generation. “Textiles are the backbone of this city’s economy, contributing 60 percent of Pakistan’s total textile exports,” he said.
He added that FCCI is the sole representative trade body of Faisalabad’s business community. Citing recent figures, he noted that bilateral trade between Pakistan and Russia has exceeded USD1 billion. He emphasized the need to promote direct ties between the private sectors of both countries and pointed out the lack of banking system coordination, which often leads to business-related disputes.
He further stated that Faisalabad has highly developed industrial estates where Russian investors can establish high-tech units to earn substantial profits. He suggested that joint ventures could be initiated by fostering trust between the private sectors of both countries.
Later, Senior Vice President Naveed Akram Sheikh thanked the guests. FCCI President Farooq Yousaf Sheikh also presented a special lapel pin to Denis Nazaroof in connection with FCCI’s 50th Golden Jubilee celebrations, along with a commemorative shield and gifts.
Copyright Business Recorder, 2026
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