ISLAMABAD, Oct 01 (DNA): Ambassador of Russian Federation, Alexey Dedov and other officials from the Russian Embassy called on the Finance Minister, Senator Muhammad Ishaq Dar here on Wednesday.

They discussed with the Finance Minister modalities about the Pak-Russia Inter Governmental Commission (IGC) meeting.

Ambassador Alexey Dedov said it was important to develop bilateral ties on strong economic footing with due emphasis on investment and trade. Both sides expressed the hope that the IGC meeting would help attain this objective and forge overall economic cooperation. Ambassador Alexey said they looked forward to the Finance Minister’s visit to Russian Federation to take part in the IGC.

Detailed discussion was also held on longstanding dispute between trade and business concerns of both countries regarding settlement of payments/dues. Finance Minister, Ishaq Dar said though it was primarily a dispute between the private sector companies of the two countries yet the Government would provide all possible facilitation to reach an amicable solution. Both sides observed that this dispute had been impeding the growth of economic cooperation between the two countries and its early resolution was need of the hour.

Finance Minister on this occasion also said that Pakistan encouraged foreign investment in the energy projects. He said with all its expertise and know how, the Russian side could contribute in energy sector development. He welcomed Russian participation in energy sector in Pakistan.