Russia interested in increasing wheat, fertilizer, oil supplies to Pakistan - Tsivilev

MOSCOW. Nov 27 (Interfax) - Russian oil and gas companies remain highly interested in developing business in Pakistan.

"We continue to collaborate in hydrocarbon exploration and development. We are working together to evaluate promising projects for joint implementation," Sergei Tsivilev, co-chair of the Russian-Pakistani intergovernmental commission and Russia's energy minister, said in an interview with Pakistan's The News International.

He also said potential Russian LNG supplies were being explored. "This is a matter for commercial negotiations, and specific volumes and the terms of any deal will be determined once the parties reach an agreement," he said.

The possibility of Russian companies participating in a refinery modernization project in Pakistan is also under discussion. "We're talking about comprehensive modernization to enhance existing production efficiency - increasing refining depth, reducing energy consumption and lessening the environmental impact," he said.

"Agricultural produce has always been an important aspect of Russian-Pakistani trade cooperation, accounting for approximately 65% of Russian exports to Pakistan. Russian supplies of ferrous metals and pharmaceuticals have increased significantly this year. Russia is also interested in increasing supplies of Russian wheat, fertilizers and oil. We import textiles from Pakistan, which account for approximately 60% of Pakistani supplies, as well as leather goods and food products," Tsivilev said.

Work continues on a project to localize production of Russian insulin in Pakistan, he said. "A key condition for this is agreeing on a price for this medication. I'm confident that it is in our common interests to find a mutually acceptable solution to this issue and ensure that the price of Russian insulin is set at a mutually beneficial level," he said.

Tsivilev also mentioned favorable conditions for deepening cooperation in pharmaceuticals, including radiopharmaceuticals.

Also, Russian IT companies are interested in increasing their presence in Pakistan and offering the latest high-tech solutions across a wide range of areas, he said.