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Goods train service will start soon between Russia and Pakistan. Its trial run will be done by March next year. The goods train from Russia will reach Pakistan via Azerbaijan and Iran. Pakistan Energy Minister Awais Ahmed Khan Leghari gave this information in an interview given to Russia Today.
Leghari said that talks are also going on to increase air connectivity between the two countries. Direct air service may start between the two countries soon.
Just two days ago, 8 MOUs were signed between Russia and Pakistan. It has been agreed to increase cooperation in many other sectors including health, trade and education.
These agreements were signed in the meeting held between the officials of the two countries from 2 to 4 December.
Economic and political benefits to Pakistan from the corridor
The Pak Minister said that Pakistan will get economic as well as political benefits from this corridor. Relations between the two countries have not been special for a long time. In such a situation, relations can get strengthened after the opening of this corridor.
Earlier in January this year, the Russian Ambassador to Pakistan had said that bilateral trade between the two countries was increasing. There is approximately $1 billion trade between the two countries.
Pakistan's Ambassador to Moscow Mohammad Khalid Jamali has expressed his desire to join the International North-South Transport Corridor (INSTC) connecting Russia with India. Jamali had said that Pakistan is ready to join INSTC. INSTC is a 7200 km long corridor, which connects Russia, Central Asia to India via Iran.
Transport corridor between Russia and Iran.
Saudi Arabia extended the deadline to repay the loan
Saudi Arabia has extended the deadline to repay the $3 billion loan given to Pakistan by one year. Pakistan, which was suffering from shortage of funds, did not currently have sufficient resources to repay the loan.
Saudi had given this loan to Pakistan for 1 year in 2021. However, later its deadline kept getting extended to 2022 and 2023.
Pakistan has to pay about $13 billion to Saudi Arabia, China and UAE by June next year. Pakistan has the highest debt with China. China accounts for 45% of Pakistan's total debt. According to the data of 2023, Pakistan has a debt of 43% of GDP.
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