Pakistan and Russia Open Direct Shipping Route
On May 25th, Pakistan received the first direct container ship from Russia, at Karachi Port, inaugurating a new sea route for direct shipping operations between Pakistan and Russia.
By the end of this month, Pakistani goods will have quick access to the Russian market and payments will be made in Chinese yuan, through the local banking system.
An agreement between Pak Shaheen (Private) Limited and Russian express liner operator Neco Line resulted in the new shipping service.
According to the agreement, the first ship, MV Crystal, would depart from St. Petersburg, Russia, and dock at Karachi Port on May 25th, according to Abdullah Qaiser, CEO of Pak Shaheen Limited.
He said that the launch of a direct shipping service between Pakistan and Russia would facilitate the two countries to take advantage of the available trade opportunities. This will significantly increase mutual trade and largely benefit Pakistani exporters.
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Earlier, keeping in view the current economic conditions, it used to take a lot of time in exporting commodities to Russia through transhipment points. But now the direct shipping service will help exporters ramp up shipments by taking advantage of reduced shipping time.
Deliveries of Pakistani goods to the Russian market were delayed, which benefited the rival states.
The CEO stated that while it used to take more than 50 days for fruit shipments from Pakistan to get in Russia via transhipment through a third nation, with the direct shipping service, export goods would now arrive in the sizable European country in 19 to 24 days.
“There is a huge demand in Russia for various Pakistani products, whose competitiveness will increase with the opening of the direct sea route,” he pointed out.
In conclusion, the establishment of a direct shipping route between Pakistan and Russia marks a significant milestone in their bilateral relations. This strategic move will enhance trade opportunities and strengthen economic cooperation between the two nations. The opening of this route unlocks new avenues for collaboration, boosts connectivity, and fosters closer ties in the maritime domain. It will pave the way for increased trade volume, streamlined logistics, and accelerated growth, benefitting both Pakistan and Russia, while also contributing to regional and global trade integration.