Pakistan, Russia agree 2030 economic cooperation plan to boost ties

Pakistan and Russia have agreed to move forward with a long-term Economic Cooperation Programme that will extend

Pakistan and Russia have agreed to move forward with a long-term Economic Cooperation Programme that will extend up to 2030. The agreement is aimed at deepening collaboration in trade, energy, investment, and regional connectivity.

Energy Minister Awais Ahmed Khan Leghari said bilateral relations between the two countries have significantly improved over the past two decades. He said ties have moved from historical mistrust to a more stable and constructive partnership.

He made these remarks while addressing a webinar on Pakistan-Russia relations in the changing global order. He said the relationship is now based on practical engagement and mutual interests.

The minister highlighted that high-level political contacts have increased in recent years. He referred to multiple meetings between Prime Minister Shehbaz Sharif and Russian President Vladimir Putin. He said these engagements reflect growing strategic convergence.

Leghari said the Pakistan-Russia Intergovernmental Commission remains the main platform for expanding cooperation. He added that both sides are working closely in energy, trade, defence cooperation, and technology exchange.

He also said both countries are trying to resolve long-standing trade barriers. These include payment and banking issues that have slowed down economic exchange. He said the new cooperation programme will help address these challenges.

The minister further said a recently signed readmission agreement will improve visa processes. He said it will support easier travel for business communities and strengthen people-to-people contacts between the two countries.

On regional connectivity, Leghari said Pakistan is interested in joining the International North-South Transport Corridor. He said Pakistan also supports linking it with Gwadar Port. He added that this could improve regional trade routes and complement other connectivity initiatives such as the Belt and Road Initiative.

He said Pakistan and Russia are also increasing coordination at international forums. These include the United Nations and the Shanghai Cooperation Organisation. He said both countries support a more balanced and multipolar global system.

Leghari added that Russia has appreciated Pakistan’s diplomatic efforts to reduce tensions between Iran and the United States. He said this reflects Moscow’s recognition of Pakistan as an important regional player.

Other officials also spoke at the webinar. Special Assistant Tariq Fatemi said both countries are working to expand cooperation in multiple sectors. He said energy cooperation has opened a new phase in bilateral relations.

Former ambassador Masood Khan said bilateral trade, currently around 1.3 billion dollars, should be significantly increased. He suggested that Pakistan could serve as a gateway for Russian trade to the Arabian Sea.

He also pointed to regional security concerns and said challenges remain in the wider neighbourhood. He stressed the need for continued engagement and cooperation.