Federal Minister for Energy (Power Division) Awais Ahmed Khan Leghari stated on Thursday that Pakistan and Russia possess immense untapped potential in trade, energy, education, and connectivity. He emphasized that stronger economic cooperation and improved transport linkages could help bilateral trade surpass the billion-dollar mark in the coming years.
Webinar on Pakistan-Russia Collaboration
Speaking at a webinar titled "Pakistan-Russia: Strengthening Trade, Education and Energy Collaboration," jointly organized by the University of World Civilisations Moscow and the Institute of Regional Studies, Leghari noted that Pakistan-Russia relations have gained positive momentum over the past two decades, driven by mutual trust, respect, and a shared commitment to regional stability.
He highlighted that the bilateral relationship has evolved independently and is no longer shaped by geopolitical considerations. Both countries attach great importance to the United Nations and international law in promoting peace, security, and cooperation, according to the minister.
Eurasian Connectivity and Trade Potential
Leghari underscored that Eurasian connectivity offers significant opportunities for economic growth and common prosperity. He termed the revival of historic land routes through Central Asia and the International North-South Transport Corridor as vital for enhancing trade between Pakistan and Russia.
Bilateral trade stood at $243.412 million during financial year 2025, significantly below potential. Trade had exceeded $1 billion in FY24 but later dropped due to challenges related to payment mechanisms, banking channels, financing arrangements, and shipping.
Economic Cooperation Programme
Leghari expressed confidence that the Programme of Economic Cooperation between Pakistan and Russia until 2030 would help strengthen economic ties and create new opportunities for businesses. He referred to regional connectivity initiatives, citing that Pakistan had signed a memorandum of understanding (MoU) on the Belarus-Russia-Kazakhstan-Uzbekistan-Afghanistan-Pakistan multimodal transport corridor and another agreement on railway cooperation with Russia in June 2024.
The establishment of a rail link will be instrumental in expanding bilateral trade and upgrading the Quetta-Taftan railroad. As no direct flights were operating between the two countries, the minister stressed that both sides were considering the possibility of early resumption and that "our airlines can explore code-sharing and transit route arrangements, particularly for cargo flights."
