Need stressed to capture lucrative Russian marketSeptember 15, 2014
Karachi: Chairman Pak-Russia Business Council Muhammad Farooq Afzal has said that the lucrative market of Russia could prove as a best alternative to American and European markers, and if the stakeholders take proper efforts the Pakistani exports to Russia could be easily doubled.
Talking to media, he said with aggressive marketing Pakistani products could penetrate the Russia market and take their due share in huge Russian imports. He said presently the share of Pakistan products in the Russian imports is just 0.005percent. He said there is a huge demand in Russia for Pakistani textile products, garments, knitwear, home textile, fabrics, towels, fruits, vegetables, meat, dairy products, herbal and allopathic medicines.
Farooq Afzal said if the Pakistani ministry of trade, chambers of commerce and industry and other related organizations adopt a joint strategy and instead of America and Europe to give focus to non-traditional markets of Russia, Central Asia, Africa and South America, many new ways could be paved for the Pakistani products and their export volume could rapidly expand and easily doubled.
He said the Pak-Russia Council would soon launch a website to facilitate the exporters, investors and traders who want to trade with Russia. This would provide them sector wise information on products needed by the Russian market, their standards, and methods of investment and export and import trade.
He said presently Pakistani products of just $350 million including $12omillion textiles are exported to Russia, despite the fact that Russia imports foreign goods worth$42billion every year. He said presently there are opportunities of exporting fruits, vegetables, meats and dairy products worth Rs10bn, and herbal and allopathic medicines worth Rs20billion to Russia, but despite these opportunities the Russian market is still ignored. He warned if urgent focus is not given to Russian market, India would soon establish monopoly there.
Farooq Afzal said the Council has completed research on the trends and requirements of the Russian market and it is learnt that the government of Russia is interested in booting trade with the Asian countries. He said keeping in mind this policy Pak-Russian Information Centre for Trade and Education has already been set up, which is trying is best to introduce the Pakistani products in the European market.
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