In a recent development in Pakistan-Russia trade relations, the first truck carrying export goods from Russia has successfully reached Pakistan. This achievement marks an important milestone under the Transport International Routes (TIR) Convention. According to the Federal Minister of Communications, Asad Mehmood, the road transport agreement between Pakistan and Russia holds great significance in the current geographical and economic context.
He has highlighted the road transport agreement as a catalyst for boosting Pakistan’s economy and facilitating expanded trade. The road transport agreement was signed during Minister Asad Mehmood’s visit to Moscow in November 2022.
The successful arrival of goods from Russia under the TIR Convention has been confirmed by the Russian Embassy, signaling a positive trajectory in bilateral trade.
Trade between Pakistan and Russia has been on an upward trajectory, and by May 2023, it had witnessed a remarkable increase of nearly 50%, surpassing $760 million. This milestone represents a crucial step toward strengthening mutual cooperation and fostering economic growth in both nations.
Minister Mehmood stated the significance of the road transport agreement, emphasizing its potential to create new opportunities for trade and commerce between Pakistan and Russia.
The positive developments in trade relations between Pakistan and Russia are expected to have far-reaching impacts, bringing mutual benefits and strengthening the ties between the two nations.
