Pakistan and Russia are likely to sign the Framework Agreement on Industrial Cooperation during the forthcoming visit of Prime Minister (PM) Imran Khan.
The Cabinet has approved the summary of the Industries and Production Division Framework Agreement on Industrial Cooperation between the Government of the Islamic Republic of Pakistan and the Government of the Russian Federation, during the premier’s upcoming visit to Russia official sources told .
The summary that was moved by the Industries and Production Division (I & PD) detailed that the I&PD intends to sign the Framework Agreement on Industrial Cooperation between both countries.
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Various stakeholders, including the Ministries of Foreign Affairs, Commerce, Economic Affairs, and Communications, the Petroleum Division, and the Board of Investment were consulted regarding the draft framework agreement.
The Ministry of Foreign Affairs has endorsed the contents of the framework agreement from a political point of view. The comparative statement on the feedback from the abovementioned ministries, divisions, and departments, and the opinion of the I & PD is available for perusal. The framework agreement has duly been vetted by the Ministry of Law and Justice, from a legal point of view, and its final draft of the framework was prepared after incorporating the remarks by various ministries, divisions, and departments.
In line with the instructions from the Prime Minister’s office that were conveyed on 25 August 2021, the instant framework will enhance Pakistan-Russia industrial cooperation to promote economic development in Pakistan.
It is proposed that the Cabinet may grant the signing of the Framework Agreement on Industrial Cooperation between Pakistan and Russia in terms of Rule 16(1) (h) read with Rule17(1) (b) and Rule 19(1) of the Rules 73.
Sources said that the Cabinet has accorded approval through the circulation to the Framework Agreement on Industrial Cooperation which is likely to be signed during the PM visit.
