Russia is a big market for a variety of Pakistani products with favourable business environment and low taxes, the president of the Business Association for Cooperation with Pakistan (BACP) and member of the Russian Chamber of Commerce (RCC) Jawwad Rahim has said, according to the Nation.
The industry group head said however that realizing the full potential of Russia as a business destination requires Pakistani entrepreneurs to overcome a few hurdles, one of them being the Russian language.
Rahim was speaking at a ceremony during his visit to Multan Chamber of Commerce and Industry (MCCI) this week.
“The potential is enormous,” he says, adding it’s all about how much the manufacturers can produce and the exporters can handle. The entrepreneur, who is also the member of dispute resolution committee, said that opening a company and doing business was easy and safe in Russia. He said that business visa is issued in 21 days, urgent visa in a day only and tourist visa in 30 days.
“A company can be opened in Russia in just 150 dollars and aspirants can get permission to do business in just three days. Labour cost is also low in the country. Money transfer to and from Russia was also easy and can be ensured within 24 hours,” Jawwad said, adding that Pakistani exporters can supply food items, spices, herbal products, drinks, fruit and vegetables, notably mango and its products, to Russia.
According to Rahim, trade and industrial exhibitions for displaying Pakistani products in Russia and products from the country to Pakistan are being planned.
“The BACP is working hard to establish linkages between Pakistani and Russian business persons and extending information to Pakistani business aspirants. I urge chambers to opt for exchange of trade delegations between Russia and Pakistan,” said Rahim.
“Pakistani entrepreneurs, exporters must seize the opportunity to capture the Russian market,” Jawwad said.