Seminar on “How to do safe business with Russia” ICCI Islamabad.

Islamabad (Pakistan) Mr Jawad ur Rehman Shekhria – President, Business Association for Cooperation with Pakistan (BACP), Moscow, Russia highlighted that Pakistan has enormous prospects to promote exports to Russian Federation. He emphasized that Pakistani business community should focus on Russian market for business and exports. He said this while addressing a seminar on “How to do safe business with Russia”, organized by Islamabad Chamber of Commerce & Industry in collaboration with BACP. He apprised that many Pakistani products including textiles, leather products, surgical instruments, yarn, motorbike accessories and pharmaceuticals, have great potential in Russian market. He added that Pakistani pharmaceutical products have also tremendous potential in Russia that needs to be exploited for enhancing trade. He said that India was dominating Russia in pharma exports, however, Pakistani pharma products were much better in terms of quality thus, could get a bigger market share in Russia. He informed that Russia was a huge market but Pakistan’s bilateral trade with it was just USD 570 million – quite an insignicant as compared to the real potential of both the countries. Mr Jawad Rehman highlighted that Pakistan and Russia also have the potential to establish JVs in many fields including textiles, oil & gas, petroleum as well as defence products. He assured that BACP would fully cooperate and facilitate Pakistani business community in exploring business opportunities in Russian Federation.

Ms. Madina Tavitova Gerorgivna – Founder & Director of Russian Consultancy Company Mosyurgarant gave a detailed presentation on doing safe business in Russia, business registration process, tax rates and other business related matters to the business community. She said that Russia was a strong economic power and Pakistan could gain good results for its economy by developing close business relations with Russia.

Addressing the seminar, Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce & Industry said that many Pakistani products, after getting labels and branding of other countries were entering Russia and other markets. He stressed that business community of Pakistan and Russia should be facilitated in establishing direct business linkages to promote business collaborations and bilateral trade. He said that Russia has advanced technology/machinery and it could assist Pakistan in improving her economy. He said that Pakistan possessed great potential for investment and JVs in various sectors of its economy including oil & gas, minerals and emphasized that BACP should convince Russian investors to transfer technology and explore JVs in Pakistan in areas of interest.

Mr Tahir Abbasi – Senior Vice President ICCI said that ICCI was planning to take a business delegation to Russian Federation and hoped that BACP would extend all possible cooperation in making its visit successful. Later an interactive session saw participants actively engaging withe TEAM BACP to address many querries about doing business in Russia. Team BACP provided requisite information in detail.

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