Islamabad, Oct 2: Pakistan’s Barter Trade Deal with Russia Unveiled
Two agriculture-focused companies from Pakistan and one from Russia on Tuesday inked a barter trade deal at the inaugural Pakistan-Russia Trade and Investment Forum held in Moscow.
Russian company Astarta Agrotrading has reached a procurement agreement with Pakistan’s Meskay & Femtee Trading Company and National Fruit Processing Factory for chickpeas, rice, mandarins, potatoes, and red lentils.
Over 60 Pakistani companies participated in the forum, representing a diverse range of sectors, including textiles, leather goods, pharmaceuticals, food, agricultural products, and tourism services. These companies collectively boast an export value exceeding $500 million, reflecting Pakistan’s Barter Trade Deal with Russia
On the Russian side, more than 60 officials from key ministries, along with representatives from the Russian Export Centre, Federal and Moscow Chambers, and major banks like MKB, were also present at the event.
This mutually beneficial agreement is expected to enhance Pakistan’s export capabilities and reduce reliance on Western markets. The potential for increased trade volumes is promising, particularly as both countries explore ways to capitalize on their respective strengths.
Moreover, the deal aligns with Pakistan’s broader economic strategy of strengthening ties with non-Western nations. As global geopolitical dynamics shift, diversifying trade partners becomes crucial for ensuring economic resilience. The agreement with Russia not only reflects this strategic pivot but also enhances Pakistan’s position in the regional trade landscape.
