Islamabad - Finance Minister Ishaq Dar on Friday said that Pak-Russia collaboration in the fields of trade, economy, science, technology, agriculture, education and culture will gain new impetus due to continuous high-level interaction between the leadership of the two countries.

He was speaking at the third meeting of the Pak-Russian Inter-Governmental Commission on Trade, Economic, Scientific and Technical Cooperation that ended in Moscow on Friday. Dar headed a high-powered Pakistani delegation to the three-day meeting. The minister expressed his satisfaction over rapidly increasing Pak-Russian relations in all fields, said a press release received here from Moscow.

The two countries are moving forward in right direction in promoting bilateral relations in diverse fields economic, as well as political- for the mutual benefits of both the nations and “We are committed to translate them into substantive economic partnership,” he emphasized.

The Russian Co-Chair and the Minister of Sports of the Russian Federation, V Mutko underscored that both the countries enjoy strategic geographical locations and are endowed with rich human and material resources, which offer immense possibilities for mutually beneficial collaboration. At the conclusion of the meeting, both sides signed a joint statement, reiterating cooperation between the two governments, as well as, encouraging private entrepreneurs to boost bilateral trade, commensurate with existing potential.

Both sides expressed their determination to remove all impediments in the way of finalization of plans and projects mutually agreed upon. The two sides are willing to cooperate in various projects in the fields of oil and gas exploration, construction of floating LNG terminals, North-South gas pipeline from Gwadar to Nawabshah, sharing of seismic and geological data, Enhanced Oil Recovery, LPG processing facility.

Both side agreed to cooperate in gas purification plants, modernization of oil and gas infrastructure, innovative technology solutions in coal industry, and building/renovation of various power generating units in Pakistan, especially those of Russian origin. Both the delegation also discussed cooperation in trans-national energy projects, including CASA-1000 and TAPI gas pipeline.

Major Russian companies in the energy sector including Technopromexport, Rostec-Global Resources, Rushydro International, Power Machines, Inter RAO, United Engine Corporation, and Stochinsky Institute of Mining have shown keen interest in cooperation with Pakistan.

Among others the meeting was attended by the delegation of Pakistan comprising Dr Miftah Ismail Ahmad, Chairman Board of Investment/SAMP, Jam Kamal Khan, Minister of State Ministry of Petroleum and Natural Resources, Muhammad Saleem Sethi, Secretary Economics Affairs Davison, Muhammad Ejaz, Additional Secretary, Ministry of Science and Technology, Shahid Mehmood, Additional Finance Secretary/Special Assistant to the Finance Minister, Khizar Hayat, Additional Secretary, Ministry of Industries and Production, Zahid Muzaffar, Chairman (OGDCL), P&NR, Arshad Mirza, Additional Secretary, Ministry of Petroleum, Ambassador of Pakistan to Russia, Zaheer A. Janjua and official of the Embassy.