Pakistan, Russia Strengthen Economic Ties at BFA Conference

Pakistan Reaffirms Commitment to Strengthening Ties with Russia

By DTD- On Mar 27, 2025

Boao: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met with the Deputy Prime Minister of the Russian Federation, Mr. Alexei Overchuk, today on the sidelines of the Boao Forum for Asia (BFA) Conference.

During the meeting, Minister Aurangzeb reaffirmed Pakistan’s commitment to enhancing economic, trade, and investment ties with Russia. He highlighted the growing momentum in bilateral relations, particularly in energy, trade, and industrial collaboration. The Minister recalled the significant progress made during the 9th session of the Pakistan-Russia Inter-Governmental Commission (IGC) in Moscow, co-chaired by Pakistan’s Minister for Energy, Mr. Awais Ahmed Leghari, and Russia’s Minister of Energy, Mr. Sergei Tsivilev.

Discussions focused on further strengthening energy cooperation, with Pakistan expressing a keen interest in increasing the procurement of crude oil and investments in oil and gas exploration. Both parties also explored opportunities for collaboration in the hydropower sector, with Pakistan welcoming Russia’s technical expertise and potential investments.

Moreover, the two sides discussed the upcoming launch of the Pakistan-Russia Freight Pilot Train Project on March 31, 2025, under the North-South Transport Corridor via Iran. Efforts to ensure smooth operations, including customs facilitation and regulatory alignment, were also addressed.

The establishment of a new steel mill in collaboration with Russia was also highlighted during the meeting. Minister Aurangzeb emphasized the importance of conducting feasibility studies and cost assessments to advance the project.

In conclusion, the Federal Minister reaffirmed Pakistan’s commitment to strengthening its economic and trade relations with Russia and expressed optimism about expanding bilateral cooperation in key areas of mutual interest. The meeting ended on a positive note, with both sides eager to achieve tangible progress in the near future.