ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Saturday said the country’s business community is eager to improve trade and economic relations with Russia.

“The imbalance of tilting 100 percent west for seven decades should be corrected by becoming closer to the regional friends like Turkey and Russia,” the FPCCI said.

While talking to Russian trade officials at the sidelines of the 22nd St. Petersburg International Economic Forum (SPIEF), Mazhar Ali Nasir, senior vice president FPCCI, said that Pakistan and Russia are in various business deals worth more than $10 billion which will take bilateral relations to new heights.

Vice President FPCCI Atif Ikram Sheikh, Chairman Coordination Malik Sohail, and Director General South Asian Strategic Stability Institute Dr. Maria Sultan are also part of the delegation attending SPIEF.

Amid changing circumstances, Pakistan and Russia have been trying to open a new chapter in their bilateral relations and the visit of FPCCI’s delegation is part of the efforts to increase bilateral trade, Nasir told the leaders of different Russian Chambers of Commerce.

“Fifteen thousand delegates from 72 countries are attending the forum while business deals worth $100 billion have been finalized which indicate its importance,” Nasir said.

Nasir added that Pakistan and Russia have taken a pro-active approach to take the relationship forward and look for realizing the potential in economic cooperation.

Chairman Coordination Malik Sohail said that SPIEF is an important event, therefore, France’s President Emmanuel Macron, Russia’s President Vladimir Putin, Japan’s Prime Minister Shinzo Abe, China’s Vice President Wang Qishan, and International Monetary Fund Managing Director Christine Lagarde are among the noted participants.

India has a good presence at the forum, while African countries have also established their pavilions but Pakistan’s Government has ignored the forum, which is amazing, Sohial added.