Islamabad, Mar 27, 2025: Federal Minister for Finance and Revenue of Pakistan, Senator Muhammad Aurangzeb, met with the Deputy Prime Minister of Russia, Alexei Overchuk, on the sidelines of the Boao Forum for Asia BFA Conference.
The high-level discussion focused on expanding trade, investment, and energy collaboration between the two nations at BFA Conference.
The Finance Minister reiterated Pakistan’s commitment to deepening its economic ties with Russia, highlighting the positive momentum in bilateral relations, particularly in energy and industrial cooperation.
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He referenced the recent progress made during the 9th session of the Pakistan-Russia Inter-Governmental Commission (IGC) in Moscow, which was co-chaired by Pakistan’s Minister for Energy, Awais Ahmed Leghari, and Russia’s Minister of Energy, Sergei Tsivilev.
Strengthening Energy and Trade Relations
A key focus of the discussion was enhancing energy cooperation. Pakistan expressed its interest in increasing crude oil procurement from Russia and inviting investments in oil and gas exploration.
Both officials also explored the potential for collaboration in the hydropower sector, with Pakistan seeking Russia’s technical expertise and investment.
Another major point of discussion was the Pakistan-Russia Freight Pilot Train Project, set to launch on March 31, 2025, as part of the North-South Transport Corridor via Iran.
The Minister emphasized the importance of customs facilitation and regulatory alignment to ensure smooth operations and efficient trade flows.
New Steel Mill Initiative
The meeting also covered Pakistan’s interest in establishing a new steel mill with Russian collaboration.
The Finance Minister stressed the need for detailed feasibility studies and cost assessments to advance the project and ensure its economic viability.
Future Prospects
Senator Muhammad Aurangzeb reaffirmed Pakistan’s dedication to strengthening its economic partnership with Russia.
Both sides expressed optimism about advancing cooperation in key areas and achieving tangible progress in the near future.
The meeting concluded on a positive note, reinforcing the shared vision of fostering long-term economic and trade ties between Pakistan and Russia at BFA Conference.
