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Russian Deputy Prime Minister Alexei Overchuk to Visit Islamabad for Key Agreements on Trade and Energy
Russian Deputy Prime Minister Alexei Overchuk will visit Islamabad tomorrow for two days to discuss trade, energy, finance, and industry agreements with President Zardari and Prime Minister Sharif.
ND
by News Desk
2024-09-17
Russian Deputy Prime Minister Alexei Overchuk to Visit Islamabad for Key Agreements on Trade and Energy

Russian Deputy Prime Minister Alexei Overchuk is scheduled to arrive in Islamabad tomorrow for a significant two-day visit aimed at strengthening bilateral relations between Pakistan and Russia. During his visit, several key agreements are expected to be signed focusing on trade, energy, finance, and industry, marking a high point in the diplomatic engagement between the two nations.

 

Overchuk's visit will include meetings with Pakistani President Asif Ali Zardari and Prime Minister Shehbaz Sharif, where they will discuss enhancing trade and economic cooperation. This visit is notable as it represents one of the highest-level engagements by a Russian official in recent years.

 

The discussions and agreements to be finalized follow up on the talks between Prime Minister Shehbaz Sharif and Russian President Vladimir Putin that took place on the sidelines of the Shanghai Cooperation Organization summit in Kazakhstan. The upcoming meetings are expected to address several key areas of collaboration.

 

One of the central aspects of the visit will be the review and advancement of the three-pronged strategy for energy cooperation between Pakistan and Russia. This strategy includes:

 

Crude Oil Procurement: Pakistan successfully imported an initial shipment of 100,000 metric tonnes of crude oil from Russia last year. Despite an initial acceptance of an unconfirmed letter of credit by Russia, crude oil imports have faced disruptions due to payment issues.

 

LNG Procurement: Further discussions are expected on liquefied natural gas (LNG) procurement and the development of related infrastructure in Pakistan.

 

Gas Infrastructure Development: The strategy includes the development of gas infrastructure to enhance energy security and supply.

 

The Russian delegation, which includes several Deputy Ministers, will also explore opportunities for collaboration on new projects. Among these is a proposed pipeline project from Iran to Pakistan and potentially India, which Russia has discussed with India previously. The proposed pipeline aims to develop an agreement similar to the Indus Basin Agreement, with India reportedly open to further discussions on the matter.

 

This visit underscores the ongoing efforts to strengthen Pakistan-Russia relations and advance cooperation in critical sectors such as energy and trade. Both nations are expected to finalize agreements that will enhance their strategic partnership and contribute to regional stability and economic growth.
Tagged:

EnergyCooperation

PakistanRussia

DiplomaticVisit

TradeAgreements
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