Pakistan and Russia negotiate to prevent economic barriers – Economy and business
EKATERINBURG, November 25. / TASS /. Pakistani authorities hope to lower customs and banking barriers between the countries to spur economic cooperation. Work in this direction is underway, Pakistani Finance Minister for Economy Omar Ayub Khan, who is in Yekaterinburg to participate in the work of the Russian-Pakistani intergovernmental commission, told TASS on Thursday.
“Currently, the Pakistani and Russian sides are negotiating in two directions that can give impetus to economic interaction between the countries, namely, on customs duties and banking cooperation. How to remove customs and banking barriers to increase investment in Pakistan,” he said.
Ayub Khan noted that during the Soviet era, the Pakistani steel plant in Karachi was a major joint project. At the moment, the countries are working on the construction of the Pakistan Stream gas pipeline with a length of more than 1,000 km. The launch of the project, according to the minister, “will instill confidence” in any area of interest, for example, metallurgy, energy, automotive.
Pakistan’s economy is pretty big, but people don’t know it. estimates at $ 600 billion, “the minister said.
According to Ayub Khan, the education of Pakistani students in Russia is also of interest in the framework of bilateral cooperation. Young people could get higher education in engineering, in the field of exact sciences, genetics and other fields.