ISLAMABAD: Foreign Minister Bilawal Bhutto Zardari will pay a two-day official visit to Moscow from January 29 to 30 at the invitation of his Russian counterpart Sergei Lavrov, JEE News reported on Sunday citing the Foreign Office.
The foreign minister will hold formal talks with his Russian counterpart where the two sides will discuss all aspects of bilateral relations and discuss regional and international issues of mutual interest, the Foreign Office said.
Bilawal will hold talks with Lavrov on January 30 (Monday), a week after Pakistan and Russia signed an agreement to supply Russian crude oil and oil products.
The visit is significant because, even as the Russians have their hands full with Ukraine, they extended the invitation, a sign of warming ties and a sign of further dialogue on the deteriorating situation in Afghanistan. There is an opportunity.
On January 20, Islamabad and Moscow – following the conclusion of the annual Intergovernmental Commission – agreed on a timeline for crude oil exports of late March.
This is a major development for Pakistan as the country is suffering from severe economic crisis.
Minister of State for Petroleum Mossadegh Malik revealed that Pakistan wants to import 35 percent of its total crude oil requirements from Russia.
Meanwhile, Russian Energy Minister Nikolay Shulgenov also said that Pakistan will pay for its energy purchases from Russia in the currencies of friendly countries starting from the end of March.
During the talks, the two countries agreed that after reaching a consensus on the technical specifications, oil and gas trade transactions would be structured in a way that would be of mutual economic benefit to both countries.
Officials also agreed to strengthen energy cooperation, expand energy trade and expand investment in energy infrastructure based on strategic and favorable trade terms.
The two sides have agreed to work on a “comprehensive plan for energy cooperation”, which will form the basis of future work and will be finalized in 2023.
Pakistan and Russia also agreed to further strengthen and expand cooperation in trade and investment, energy, communication and transport, higher education, industry, railways, finance and banking sector, customs, agriculture, science and technology and information technology. .
