The Russian Trade Representative in Pakistan, suggested that Russia and Pakistan establish a “reliable and mutually acceptable banking system”.
Business Recorder reported earlier this week that Yuri M. Kozlov, the Russian Trade Representative in Pakistan, suggested that Russia and Pakistan establish a “reliable and mutually acceptable banking system” during a meeting with the President of the Faisalabad Chamber of Commerce & Industry, which comes just weeks after the two countries resolved their Soviet-era trade dispute that now legally enables Moscow to invest in the South Asian state. This proposal strongly hints at Russia’s desire to improve its fledgling commercial ties with Pakistan, which has enormous economic potential by virtue of its geostrategic location as the global pivot state and the fact that it host the flagship project of China’s Belt & Road Initiative (BRI), the China-Pakistan Economic Corridor (CPEC). Russia therefore has a natural economic interest in wanting to tap into this lucrative opportunity, both in purchasing low-cost but high-quality goods from its new partner but also to export its own comparatively high-tech products there and/or use it as a base of operations for Russian companies to sell their wares further abroad along the New Silk Road.
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Hidden History -- In The Making 