Tirmizi calls for greater private-sector engagement with Russian counterparts

ISLAMABAD: Pakistan’s Ambassador to Russia, Faisal Niaz Tirmizi, has urged for enhanced collaboration between Pakistani and Russian private sectors in order to capitalize on shared economic interests. During his meeting with the ICCI President Mohammad Zikria Akbar Zia, Tirmizi pointed out that both nations should capitalize on untapped trade potential and establish strong business partnerships to unlock their combined trade, investment and industrial potential.

The Ambassador highlighted several sectors with promising collaboration opportunities including healthcare, pharmaceuticals, agriculture, food security, tourism, sports goods and surgical instruments. He noted that private sectors from both countries could benefit from each other's expertise in these areas.

To strengthen commercial ties, Tirmizi advocated for simplified visa processes, direct air connectivity and solutions to banking and payment issues. He also discussed plans for a bilateral business forum, which would include advance company meetings to identify potential partnership opportunities and develop concrete business proposals.

Improving transport connectivity via Iran, Afghanistan and China was another measure proposed to facilitate bilateral trade. Furthermore, Tirmizi stressed the significance of expanding cooperation in education, science, engineering and agricultural research via university partnerships and increased student mobility.

ICCI President Zia echoed Tirmizi’s sentiments, advocating for joint ventures between Pakistani and Russian entrepreneurs, particularly in power, steel and other industrial sectors. He emphasized the value of regular business-to-business meetings and stronger institutional cooperation to turn economic opportunities into viable investment projects, foster technology transfer and boost industrial development in both nations.

Zia also called for stable, long-term economic policies formulated in consultation with the private sector, highlighting the importance of policy continuity, a predictable regulatory environment and effective government-business coordination. These would be vital for attracting investment, enhancing industrial competitiveness and fostering sustainable international trade partnerships.

Senior Vice President Mohammad Ashfaq Hussain Chattah also underscored the need for sustained diplomatic engagement and practical business cooperation to strengthen economic relations between Pakistan and Russia.