Prime Minister Shehbaz Sharif met Russian President Vladimir Putin on Wednesday, emphasising the expansion of bilateral trade between Pakistan and Russia.

In his televised opening remarks, Shehbaz noted that bilateral trade currently stands at around $1 billion. He suggested this could be significantly increased by resolving financial and banking issues.

PM Shehbaz, attending the Shanghai Cooperation Organization Council of Heads of State (CHS) and SCO Plus summits, expressed pleasure in meeting Putin, recalling their previous interaction in Samarkand.

He congratulated President Putin on his re-election and expressed confidence in Russia’s continued progress under his leadership.

Shehbaz highlighted that Pakistan-Russia relations have been on a positive trajectory for several years. He expressed readiness to work closely with Putin to further strengthen bilateral ties, noting the benefits of Putin’s experience and leadership.

He thanked the Russian government for a recent oil shipment to Pakistan and expressed a desire for continued cooperation in this area.

Shehbaz stated that Pakistan-Russia ties are not influenced by geopolitical factors, citing a long history of business relations. He recalled the barter trade between the two countries from the 1950s to 1970s when Pakistan imported machinery from Russia and exported leather and other commodities.

President Putin echoed Shehbaz’s sentiments, mentioning their prior discussions in Samarkand on improving bilateral relations. He noted that Pakistan and Russia enjoy cordial relations, bolstered by trade linkages.

He said both countries could enhance their cooperation in energy and agriculture and expressed his readiness to promote cooperation with Pakistan in the field of food security.