April 08, 2007	Sunday	Rabi-ul-Awwal 19, 2007

ISLAMABAD, April 7: Economic relations between Russia and Pakistan need to be further improved in this age of economic dependence and globalisation. This was stated by the minister for railways, Sheikh Rashid Ahmed, while talking to a delegation of Russian railway company Rossiyake Zhelenye Drogi (RDZ) here on Saturday.

He said Pakistan was geared up to develop rail and road infrastructure up to Russia and other central Asian States through Afghanistan.

He said this link would provide Pakistan and Russia ample opportunities to explore vistas in economic and social sectors with European countries and the Central Asian States.

The work on Quetta-Kandhar and Taftan-Zahidan sections was already under way which would ultimately give boost to the economic ventures in this part of the South Asia and rest of the world, he said.

The feasibility study for developing rail-link between China and Pakistan was being conducted at a fast pace and would be completed within this year.

This would further extend rail network up to the world’s most exciting economy.

Mr Ahmad said the upcoming visit of the Russian Prime Minister, Mikhail Fradkov, would give further strength and impetus in these economic and social ties between the two countries.

He apprised the delegation about Pakistan’s efforts to turn it into an energy corridor for the rest of the world by the next decade.

He said besides the European world, Pakistan had been focusing on Russia, China, Iran and Afghanistan to grab economic opportunities from these countries.

He said Foreign Direct Investment (FDI) has increased manifold in the last seven years due to opening of Pakistan’s economy and consistency of fiscal policies.

The Russian firm expressed keen interest in supply of fast speed passenger coaches, locomotives and signalling system to Pakistan Railways in wake of emerging relations between Russia and Pakistan.