Premier stresses closer trade ties with Russia
By Our Diplomatic Correspondent

Islamabad—Prime Minister Shaukat Aziz has said Pakistan attaches greatimportance to its relations with Russia and wants closer economic ties and enhanced cooperation in a broad spectrum of areas particularly in the fields of oil, gas, petrochemical and steel.
Talking to a Russian Delegation led by Mr. Mikhail L. Golubev, President EZOT , a leading fertilizer company of Russia who called on him at the PM’s House on Tuesday morning, the Prime Minister said there is a great potential for closer economic ties and bilateral cooperation between Pakistan and Russia and Pakistan desires to tap this potential for mutual benefit.
The Prime Minister said that wide-ranging structural reforms introduced during the last seven years coupled with macroeconomic stability, rapid, strong and sustained economic recovery, reduced cost of doing business and transparency in policies and procedures has transformed Pakistan into one of the ideal locations for foreign investment and investments are flowing into Pakistan from all parts of the world which is resulting in faster growth, jobs creation and poverty alleviation.
The Prime Minister said the geo-strategic location of Pakistan makes it an ideal location to serve as a regional hub for manufacturing and trade and Pakistan can cater to the needs of the market of many Asian regions. He said Pakistan is strengthening its infrastructure and building a network of roads and highways to leverage its true potential .
Talking of the fertilizer policy of the government, the Prime Minister said agriculture is the backbone of our economy and the government has taken a number of steps to increase the production and productivity in the agriculture sector. He said the government is encouraging the use of a blend of fertilizers to increase the yield per acre. The Prime Minister said the use of DAP has increased manifold after the government’s decision to reduce its price. The enhanced use of DAP is expected to result in substantial increase in the next wheat and sugarcane crops, the Prime Minister added. Mr. Mikhail L. Golubev said his company which has more than 7000 employees and earns a revenue of $ one billion annually is happy about their plans to start joint ventures with a Pakistani company.
He appreciated the investment friendly polices and procedures in Pakistan and said Pakistan has good prospects for foreign investment in a host of areas.
Prime Minister Shaukat Aziz on Tuesday said Pakistan attaches great importance to its relations with Russia and wants closer economic ties and enhanced cooperation in a broad spectrum of areas particularly in the fields of oil and gas, petrochemical and steel.
He was talking to a Russian delegation led by Mikhail L. Golubev, President EZOT, a leading fertilizer company of Russia who called on him here at the Prime Minister House this morning.