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Trade impediments need to be resolved jointly by public and private sectors to capture the untapped $2.23 trillion Russian consumer market. This was stated by Farooq Afzal, CEO, Forum and former Chairman of Pak-Russia Business Council of Federation of Pakistan Chambers of Commerce and Industry (FPCCI).
The issues impeding the progress in that direction relate to: providing trade facilities, developing business infrastructure, which is imperative in view of typical dynamics of Russian market, establishment of banks' branches in both countries, problems faced in getting visa and communication gap between chambers and trade association of Pakistan and Russia.
Farooq, who led a businessmen's delegation to Russia from September 27 to October 6, told Business Recorder here on Friday that useful meetings were held with the officials of fair and exhibitions and tour travel departments and representatives from different Russian regions, local businessmen and private sector analysts.
He highlighted that Pakistan's neighbours like India, China, Iran and Turkey have been exporting goods worth more than $5 billion, individually, to Russia but Pakistan's exports remained stagnant at approximately $200 million. India has been organising single-country exhibitions, normally 15 days, in almost all the Russian regions and marketing their products most aggressively.
Russia has a potential of $72 billion in textiles (home textiles, garments and hosiery), $5.7 billion in fruits and vegetables, $2.87 billion in sports goods and $14 billion in pharmaceuticals, he said. He said that the-22 member Pakistan's businessmen delegation participated in Federal Trade Fair for textiles in Moscow from September 27 to 30.
All participants from Pakistan were very much satisfied from the outcome of the trade fair and concluded gainful business deals with Russian companies. "We need more and more presence of our businessmen from all sectors in Russian market if we really have to capitalise on opportunities available in Russia," he said.
Farooq Afzal also visited Krasnodar region where he signed an agreement with one of the largest Russian chains of real stores to supply textiles, sports goods, fruits and vegetables from Pakistan. Its retail store has more than 4,500 outlets all over Russia and buys goods worth $3 billion every year. This is a big and positive move from this giant and help in enhancing Pakistan's exports to Russia.
He also held meetings with Rishatkhalikov, Consular/Trade Representatives of Bashkortostan, Russia state in Moscow and discussed trade opportunities in the Russian state and participation of potential businessmen in proposed single-country exhibition of Russian companies in Pakistan in the first week of March 2012, for which he assured his full co-operation. During his visit to Russia, Farooq also signed agreements with firms providing business and tourist visa facilities, which would help to minimise visa issues faced by Pakistan's businessmen.
The issues impeding the progress in that direction relate to: providing trade facilities, developing business infrastructure, which is imperative in view of typical dynamics of Russian market, establishment of banks' branches in both countries, problems faced in getting visa and communication gap between chambers and trade association of Pakistan and Russia.
Farooq, who led a businessmen's delegation to Russia from September 27 to October 6, told Business Recorder here on Friday that useful meetings were held with the officials of fair and exhibitions and tour travel departments and representatives from different Russian regions, local businessmen and private sector analysts.
He highlighted that Pakistan's neighbours like India, China, Iran and Turkey have been exporting goods worth more than $5 billion, individually, to Russia but Pakistan's exports remained stagnant at approximately $200 million. India has been organising single-country exhibitions, normally 15 days, in almost all the Russian regions and marketing their products most aggressively.
Russia has a potential of $72 billion in textiles (home textiles, garments and hosiery), $5.7 billion in fruits and vegetables, $2.87 billion in sports goods and $14 billion in pharmaceuticals, he said. He said that the-22 member Pakistan's businessmen delegation participated in Federal Trade Fair for textiles in Moscow from September 27 to 30.
All participants from Pakistan were very much satisfied from the outcome of the trade fair and concluded gainful business deals with Russian companies. "We need more and more presence of our businessmen from all sectors in Russian market if we really have to capitalise on opportunities available in Russia," he said.
Farooq Afzal also visited Krasnodar region where he signed an agreement with one of the largest Russian chains of real stores to supply textiles, sports goods, fruits and vegetables from Pakistan. Its retail store has more than 4,500 outlets all over Russia and buys goods worth $3 billion every year. This is a big and positive move from this giant and help in enhancing Pakistan's exports to Russia.
He also held meetings with Rishatkhalikov, Consular/Trade Representatives of Bashkortostan, Russia state in Moscow and discussed trade opportunities in the Russian state and participation of potential businessmen in proposed single-country exhibition of Russian companies in Pakistan in the first week of March 2012, for which he assured his full co-operation. During his visit to Russia, Farooq also signed agreements with firms providing business and tourist visa facilities, which would help to minimise visa issues faced by Pakistan's businessmen.
