KARACHI, Sept 9: The Consul General of Russian Federation Vladimir Mikhaylov on Thursday said that the Russian Federation was keen on enhancing economic and trade relations with Pakistan.

He said that both countries were not using their full potential in trade and business relations which presently stood around 0.1 per cent of the actual capacity which is much higher.

In a luncheon meeting with the Pakistani participants to the Heimtextile Rossija to be held from September 22-25 at the Crocus City Trade and Exhibition Centre in Moscow, he said that besides other difficulties being confronted by the business communities' lack of information was the main factor.

Milkhaylov said that since he came to Karachi about two years back, he had been keenly working on developing close contacts with the official bodies linked to trade and private sector representative bodies.

He further said that another factor for slow growth in trade was the lack of coordination between the banking sectors of both the countries. The long distance, he said could also be one of the reason.

However, the Consul General of Russian Federation said in order to narrow the gap on account of information, he on his own has started contacting and meeting the Export Promotion Bureau (EPB) officials, and the FPCCI and the KCCI.

As a result, he said, the trade volume has doubled in a year and hopes that this will ultimately help in making both trading partners. Giving some details about the economic situation in Russian Federation, he said presently the economic growth is one of the highest in the world and it was fast becoming consumers' society.

The Russian envoy urged upon the participants to Heimtextil Rossija to develop contact during their forthcoming visit with their Russian counterpart. He further said that Russia is producing high-tech equipments and machinery and if not the best but was still good in quality.

Referring to visa policy, Valadimir P. Milkhaylov said the uncertain situation and acts of terrorism have forced us to follow tight policy to check illegal movement of people. However, he said recommendation letter issued by the Export Promotion Bureau (EPB) or trade body like the KCCI will facilitate in acquiring visa.

He further said that the businessmen could get visa on providing some introduction from their Russian counterpart, or hotel, or the tourism company. Ahmed Salahuddin, representative of the Messed Frankfurt speaking on the occasion said that 18 Pakistani companies were participating in the Heimtextil Rossija and among them some leading exporters of textile were opening their stalls in the exhibition.