KARACHI: A 12-man Russian economic mission is expected to arrive in Karachi in the first week of July to explore possibilities of a bilateral trade agreement between Pakistan and the Soviet Union, it was reliably learnt on Wednesday [June 29]. The delegation, which will also include technicians, will be headed by Mons Evan Eramin.

A minute study of the Russian trade reveals that Pakistan’s trade with that country has recorded a high level. During the last financial year — 1948-49 — Pakistan had exported cotton to Russia worth Rs 4,43,35,374 while the imports into Pakistan from the Soviet Union during the same year amounted to Rs 2,71,46,315, bringing a huge balance … in favour of Pakistan.

The … remarkable recovery of the Soviet Union from the ravages of war and post-war economy with an increase in the production holds out good prospects of trade with Pakistan. As the production of capital goods in the Soviet Union have increased from 250 per cent to 750 per cent, she is … in a favourable position to supply Pakistan the capital goods in exchange for raw materials of cotton and jute, etc.

Published in Dawn, June 30th, 2024