ISLAMABAD: Chairman Investment Board Saleem H. Mandviwala said on Saturday that Pakistan is going to resume bilateral trade and investment with Russia after a long gap of 30 years.

This is a very big initiative of the present government which would help improve the relations between the two countries, he said.

“Russian government will invest in different sectors including steel and banking in the next coming months, “Chairman Investment Board said this while talking to Pakistan Television (PTV).

He said Russian investment in banking sector of Pakistan will start soon, while negotiation on Steel Mill is in progress.

Saleem Mandviwala said that Russia is a big investor of the region and its leadership is willing to invest in Pakistan's top zones.

This is a positive gesture of Russian government for this region, he added.

To increase the activities at Gwadar Port, he said the railway and road communication is very important.

The Chairman said that foreign investment ratio in the country has increased by two percent during the last two years and efforts are being made to further raise this ratio in days ahead.

He said the Investment Board is going to launch online visa service next month for foreign investors.

Saleem Mandviwala said that a special protocol is being given to those who are willing to get Pakistani visas for investment and business purpose in the country.