Islamabad: Pakistan and Russia signed a Memorandum of Understanding (MoU) to increase parliamentary cooperation between the two nations on Monday. The MoU was signed by Senate Chairman Yusuf Raza Gilani and visiting Speaker of the Federation Council of the Federal Assembly of Russia Valentina Matvienko at a ceremony held at the parliament house. "This visit marks a watershed in the long and historic journey of cooperation between Pakistan and Russia, reinforcing our shared commitment to regional peace, prosperity and mutual respect,” Gilani said while speaking on the occasion.
He also said that the agreement lays the foundation for enhanced parliamentary diplomacy and emphasises the exchange of parliamentary delegations to further cooperation between the two countries. He added that the agreement will promote interaction between parliamentary friendship groups.
Pakistan, Russia to increase bilateral cooperation
Separately, Matviyenko and Gilani discussed ways to enhance bilateral cooperation in trade, investment and diplomacy between the two countries. Gilani said that Matviyenko's visit to Pakistan will give a new boost to ties between the two countries and will promote regional peace, development and prosperity.
Matviyenko said Russia highly values its relations with Pakistan. She said the promotion of parliamentary relations would not only augment trade and investment between the two countries but also help bring the two peoples closer. She also met the Speaker of the National Assembly Ayaz Sadiq and discussed ways to strengthen ties between the two countries. Sadiq reiterated Pakistan's commitment to continued collaboration with Russia across areas of shared interest, noting that parliamentary diplomacy has historically played a key role in reinforcing bilateral relations.
Matviyenko also addressed a special sitting of the Senate, the upper house of parliament. She will also call on President Asif Ali Zardari and Prime Minister Shehbaz Sharif.
Pakistan and Russia have recently strengthened their relationship through ongoing trade and business engagements. Russia’s Deputy Prime Minister Alexei Overchuk visited in September to expand trade and investment with Pakistan.
Is it concerning for India?
It is worth mentioning the bilateral relations between Russia and Pakistan have broadened in recent years. According to a report by a report by Business Recorder, the annual bilateral trade between both nations increased by almost 50 per cent last year, exceeding $1 billion, the highest ever between the two countries.
Russia, which has been facing the burnt of Western sanctions following the Ukraine war, diversified its trade with other nations to beat the economic woes. Last year, the first shipment of Russian crude oil arrived at the port of Karachi, and by the end of the year, its share in Russian exports to Pakistan exceeded 20 per cent, a Russian official told BR.
Earlier in September, Valentina Matviyenko, the Chairwoman/ Speaker of Russia’s Federation Council of the Federal Assembly, addressed a special Senate session convened in her honour during her visit to Islamabad, said "There are many promising areas for the development of economic cooperation including energy and agro-industrial fields". Pakistan and Russia conducted a joint counter-terror exercise last week, where military officials from both nations lauded the exercise as a successful demonstration of tactical skills and inter-military cooperation.
However, this isn't concerning for India as Moscow is an all-weather "friend" of New Delhi and it hasn't signed any defence deals with Islamabad until now that could pose a threat to India.
(With inputs from agency)
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