During a meeting with Russian President Vladimir Putin on Wednesday, Prime Minister Shehbaz Sharif called for overcoming financial and banking issues between the two countries by renewing and expanding trade under a barter system.
Speaking on the sidelines of the Shanghai Cooperation Organization (SCO) summit, PM Shehbaz reminisced about the bilateral trade and barter system that Pakistan and Russia had in the 1950s and 1960s.
“I think today is the time we can overcome financial and other banking issues by renewing our trade and expanding our trade under a barter,” PM Shehbaz told President Putin. “That will be very beneficial to Pakistan and we will be able to overcome many problems.”
The premier called for enhancing bilateral trade between the two countries, noting that it was currently “touching $1 billion.”
Speaking further on Pakistan-Russia ties, PM Shehbaz highlighted that he was “very happy” to share that the bilateral relations between the two states had been on a positive trajectory over the past several years, terming it a “matter of great comfort.”
“I would like to work with you closely to further cement our relations,” Shehbaz told Putin. “We have a whole lot to do, and we can benefit from your experience.”
The prime minister stressed that the diplomatic relations between Pakistan and Russia were based on strength.
“Neither are our relations driven by any geopolitical contingency nor are they impacted by relations with other countries.”
PM Shehbaz also recalled his meeting with Putin in September 2022 in Uzbekistan, which took place on the sidelines of the SCO summit. He congratulated the Russian president on his re-election in March.
“Once again, I’d like to congratulate you on your re-election, and I am sure the Russian Federation will further progress under your able leadership,” the premier said.
“I would like to thank you for this opportunity and assure you on my behalf and on behalf of the people of Pakistan that we are keen to strengthen our relations further,” Shehbaz concluded.
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State-run PTV News also shared a photo from the “delegation-level talks” between the two nations, where Deputy PM and Foreign Minister Ishaq Dar, Defence Minister Khawaja Asif, and Information Minister Attaullah Tarar were also present.
