Russia pledges $1 billion to Pakistan for steel and electricity

[VelocuR]

Pakistan, Russia to go for FTA, currency swap agreement

Top Russian military commander meets Kayani to discuss post-Osama regional security, say official sources.


ST. PETERSBURG: The leaders of Pakistan and Russia have expressed the willingness to speed up work on the proposed Free Trade Agreement and currency swap arrangement to boost bilateral trade and further strengthen their economic ties.

Prime Minister Syed Yusuf Raza Gilani and his Russian counterpart Vladimir Putin, who had a frank discussion in a cordial atmosphere, here on Monday also discussed the whole gamut of relations on the sidelines of the 10th Heads of Government meeting of the SCO. The two leaders discussed several important issues including fight against terrorism and extremism besides calling for the need to adopt a regional approach in dealing with common challenges. The two leaders discussed ways to strengthen relations by increasing cooperation in energy, trade, infrastructure development, agriculture, business cooperation and people to people contacts.

Prime Minister Putin said relations between Pakistan and Russia have reached a level, where both the countries were in a position to enhance trade, measuring up to their strong ties.

Prime Minister Gilani said Russia was an important country and a source of stability in the region and because of its geographical proximity and strength of economy, it has contributed significantly for the socio-economic uplift of the region.

The Russian premier also supported Prime Minister Gilani’s proposals for implementing trade and energy projects.
He announced financing of 500 million US dollars for the CASA-1000 for the power transmission from Turkmenistan, Tajikistan, and Kyrgyzstan to Pakistan and Afghanistan.

Putin also offered Russia’s assistance for the enhancement of the production capacity of the Pakistan Steel Mills by increasing its production from the current one million tonnes to three million tonnes.

He also offered coal gasification technology for the Thar coal and upgradation of the Guddu and Muzaffargarh power plants to increase power generation capacity to help meet country’s growing energy needs.

Putin said in practical and tangible terms, Russia wants materialization of projects including TAPI (Turkmenistan-Afghanistan-Pakistan-India) gas pipeline project and the Central Asia South Asia Electricity Trade and Transmission Project (CASA 1000).
Gilani appreciated Russia’s support for mega projects including CASA-1000 and said it was his fourth meeting with Prime Minister Putin.

He mentioned that he joined other leaders at the SCO forum despite the occasion of Eid because of the importance of the forum and also because of Pakistan’s commitment to the regional issues.

Prime Minister Gilani called for the opening of respective bank branches in both the countries to jack up the trade level. He said the top officials of their central banks can meet to work on an operational strategy in this regard.

The Russian Prime Minister said the inter-ministerial commission’s meeting will be held on December 12, which will take up all subjects of cooperation at the experts level.

“Pakistan is important for us in trade and economy and is an important country of South Asia and the Organization of the Islamic Conference and can play an important role in the promotion of peace and security in the region,” he told Prime Minister Gilani.

The leasing of Sukhoi commercial aircraft for the Pakistan International Airlines was also discussed during the meeting.
Russian premier Putin also offered assistance to Pakistan in disaster management, saying it could help save precious lives and property.

Gilani said he was very pleased to meet his counterpart at his home town of St. Petersburg, which was also an economic hub like Karachi, where he was born and said “we share affinity between the two cities.”

Putin supported Pakistan’s stance on war on terror and agreed to pursue the policy of counter-terrorism for ensuring regional peace.
The two prime ministers agreed that collective regional efforts were required to eliminate terrorism from the region to usher in peace and stability, and redirect all energies towards economic interaction among the members of SCO.

Russian Prime Minister said Pakistan had good relations with China like the ties of his country with China, and it would be appropriate if the three countries can work together for peace, prosperity and stability of the region.

Prime Minister Gilani invited the Russian Prime Minister to visit Pakistan, which he accepted. The dates would be worked out by the respective foreign ministries of the two countries.

 

[Omar1984]

Good move. As India moves closer to USA, Pakistan should move closer to China, Russia, and Iran.

 

[Omar1984]

Until India is in the room, there is no scope for Russia Pak friendly relationship.

The world doesn't revolve around India. We improved our relations with Iran this past decade while Indo-Iranian relations are going downfall. We are moving away from U.S. while you are improving relations with U.S. (remember 40 years ago your government hated U.S.). So why cant we improve our relations with Russia.


In today's changing world with different interests, Pakistan needs a change in foreign policies.


Believe it or not India, US, and Israel have the same interests in today's world.

Pakistan, China, Iran, and Russia have the same interests in today's world.

 

[NirmalKrish]

Good move. As India moves closer to USA, Pakistan should move closer to China, Russia, and Iran.

Good for Pakistan that Russia understands her duty of care to help in infrastructure and positive developments for the people of Pakistan. But to undermine Russia will be leaving INDIA to support Pakistan is a joke. 1 billion is a mere drop in the hat when it comes between the trade between India and Russia. Don’t get too carried away we keep both powers in balance and Indian diplomacy reaps the benefits from both nations.

Russia and India move towards galvanizing bilateral trade

His Excellency Mr. S.M. Krishna, Hon’ble External Affairs Minister of India, paid an official visit to Russia from 16 – 18 November 2011 to participate in the 17th Session of India-Russia Inter-Governmental Commission on Trade, Economic, Technological, Scientific and Cultural Cooperation, 2011 (IRIGC-TEC). He is accompanied by senior government officials from various Ministries.



2. H.E. Mr. S.M. Krishna co-chaired the 17th session of IRIGC-TEC along with H.E. Mr. Sergei Ivanov, Deputy Prime Minister of Russian Federation on 18 November 2011. In their opening statements, both the Ministers lauded that the Commission had acted as an important catalyst for deepening bilateral economic partnership. Both the dignitaries signed the official Protocol, representing the mutual cooperation in the spheres of trade, economy, science & technology and culture. The IRIGC-TEC had been constituted to consider questions arising in the course of implementation of the agreements signed between the two Governments and to further enhance the level of bilateral cooperation. It integrates inputs from five working groups on economic and trade cooperation, energy, tourism and culture, science and technology, and IT.



3. The Protocol noted the progress in cooperation in diverse areas including energy, information technologies and telecommunications, metallurgy, automobile industry, pharmaceuticals, gems and jewellery, banking and financial services, construction of roads and underground metro, science & technology, tourism etc. Both sides emphasized that there was a significant potential for cooperation in such areas as the mining industry, railways and water transport, aviation and shipbuilding, bio and nano-technologies, manufacture of fertilizers and chemical production, agricultural and food items, textiles etc.



4. Both the Sides agreed on four important vectors to galvanize the bilateral trade and for fructifying cooperation. These have been identified as the formation of the Joint Study Group to examine the possibility of establishing a Comprehensive Economic Cooperation Agreement with the Customs Union; enhancing connectivity through the International North-South Corridor Project; Joint Public-Private Investment Fund for investments in both countries; and promotion of economic cooperation between various regions of the two countries.



5. Special emphasis was given to the formation of Joint Working Group on Modernization reflecting the objectives of modernization programme launched by President Dmitry Medvedev. This would be an important measure to develop the bilateral business and investment climate.



6. The Commission expressed satisfaction with the signing of Memorandum between Ministry of Chemicals & Fertilizers of India and the Ministry of Industry & Trade of the Russian Federation on cooperation in the sphere of pharmaceuticals and bio-pharmaceuticals, and also positive dynamics of development of cooperation in the sphere of pharmaceuticals.



7. The Commission lauded the agreement between NMDC Limited and the OJC “Severestal” on execution of joint project for setting up of an integrated steel plant in the State of Karnataka with initial production capacity of 2 million tons of steel per annum.

8. Both the sides welcomed the signing of the agreement on prolongation of the Integrated Long Term Programme (ILTP) for scientific and technical cooperation for the period till 2020 during the visit of the President of the Russian Federation to India in December 2010, which envisages its new structure and orientation towards bilateral engagement of the sides in the field of innovative technologies. Emphasis was given to the joint development and commercialization of innovation, especially in the areas of Nanotechnology, Biotechnology, and Information & Communication Technologies.



9. The two sides noted significant interest evinced by the business communities of the two countries at 5th India-Russia Forum on Trade & Investment held on 10 November 2011 at Moscow and called the interested organizations of the two countries, representatives of regions of India and Russia, to take active participation in the 6th India-Russia Forum on Trade & Investment which will take place in 2012 at New Delhi.



10. H.E. Mr. S.M. Krishna also had a bilateral meeting with H.E. Mr. Sergei Ivanov, Deputy Chairman of the Government of the Russian Federation and co-Chair of IRIGC. Both sides reaffirmed their resolve to take forward and intensify the process of trade and economic cooperation so that mutually agreed bilateral trade target of US % 20 billion by 2015 could be achieved. The meeting also addressed the status of overall bilateral relations in the light of the forthcoming Annual Summit to be held in Moscow in December 2011. The dignitaries emphasized the importance of long-standing and vibrant relations between both the countries.



11. H.E. Mr. Krishna’s visit to Russia is an integral part of regular high-level exchanges between India and Russia.



Moscow,

Russia and India move towards galvanizing bilateral trade

India

 

[Omar1984]

^ Russia might not support Pakistan when it comes to Pakistan-India rivalry.

I think its trying to improve relations with Pakistan because of weakening U.S.-Pakistan relations.

Russia is watching U.S. presence in the region carefully and is not too happy with US presence in the region. Russia is also aware that Pakistan, Iran, and China dont want U.S. in the region. We all know India wants U.S. to stay in the region and have the same interests as U.S. for the region.

No need to provide a list. India means very little in Pakistan-Russia relations today. And we have nothing against Russia and have no disputes with Russia nor is Russia a threat to Pakistan.

 

[Pak_Sher]

Pakistan and Russia need to boost trade and defence cooperation. It will benefit the region and both countries. Great work by Pakistan and Russia.

 

[Shardul.....the lion]

There is another thread where Japanese have invested approx 24-26 billion dollars in myanmar and vietnam.

And here is hoopla about just 1 billion dollar proposed investment by russia in pakistan.

Anyways, Stable Pakistan is always in interest of India.

 

[Sugarcane]

There is another thread where Japanese have invested approx 24-26 billion dollars in myanmar and vietnam.

And here is hoopla about just 1 billion dollar proposed investment by russia in pakistan.

Anyways, Stable Pakistan is always in interest of India.

In Pak-Rus case even 1 million is enough to discuss, if you have any idea about history and current situation, most import this is enough to burn someone in next door, your comment is proof of that.

 

[mjnaushad]

We should have improved our relation with Russia after 80's war.... But as they say dair aaye drust aaye....

 

[Abu Zolfiqar]

how many rubles or rupees for the finest caviar of the Caspian?

 

[roadrunner]

how many rubles or rupees for the finest caviar of the Caspian?

At the moment it could be any currency as noone knows who owns the Caspian Sea. Could cause problems for relations between those littoral states.

Personally, I'd divide it up like a pie chart.

 

[PakistaniPacifist]

I'm cynical about a fruitful relationship with Russia, considering their track record, Pakistan should definitely engage with the Russian govt in a postive manner while remaining extremely weary!

 

[Abu Zolfiqar]

I'm cynical about a fruitful relationship with Russia, considering their track record, Pakistan should definitely engage with the Russian govt in a postive manner while remaining extremely weary!

Pakistan is best served by a purely independent foreign policy in which we aim to have good relations with all countries --where and when it benefits us the most.


it's never good to put all eggs just into one basket, which some people think that's the only way to go about things

 

[PakistaniPacifist]

Understand where you are coming from but for some reason when these deals are inked Pakistan always draws the short straw and one only has to look across the border where Russia on numerous times has turned its back on Iran while pretending to have a fruitful relationship with the country.

 

[patna_ke_presley]

The world doesn't revolve around India. We improved our relations with Iran this past decade while Indo-Iranian relations are going downfall. We are moving away from U.S. while you are improving relations with U.S. (remember 40 years ago your government hated U.S.). So why cant we improve our relations with Russia.


In today's changing world with different interests, Pakistan needs a change in foreign policies.


Believe it or not India, US, and Israel have the same interests in today's world.

Pakistan, China, Iran, and Russia have the same interests in today's world.

Prove this point. I think Iran recently closed Tehran Airport for all PIA flights because of non-payment of 6 months dues of $600,000.