Pakistan and the Russian region of Ural signed a memorandum of understanding to boost bilateral cooperation, the Pakistani Embassy in Russia said on Thursday.
This comes after representatives from the two sides discussed trade cooperation, including new opportunities for Pakistani companies to enter the Russian market.
The agreement came amid the 7th meeting of the Pakistan-Russia Inter-Governmental Commission on Trade, Economic, Scientific, and Technical Cooperation held in Russia from November 24-26.
"The Ural Chamber of Commerce and Industry, represented by Vice President Mikhail Kozlov, and the Federation of Pakistan Chambers of Commerce and Industry, represented by Mohsin Sheikh, Director and Ex-Chairman of the Pakistan-Russia Business Council, signed a Memorandum of Understanding creating further economic and trade cooperation opportunities between the two countries," the embassy said in a statement obtained by Sputnik.
"The current intergovernmental negotiations on building the New Trade Corridor through Pakistan-Central Asia-Russia is a clear sign of a new page in the strategic partnership between Russia and Islamabad," the statement read.
Russia and Pakistan have managed to boost their political and economic ties in recent years despite the coronavirus pandemic, it added.
The signing ceremony was held in the Russian city of Yekaterinburg, attended by the Pakistani Minister for Economic Affairs Omar Ayub Khan, Pakistani Ambassador to Russia Shafqat Ali Khan, among other Pakistani officials, as well as representatives of the Russian Ministry of Economic Development.
( With inputs from ANI )
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