Pakistan plans to buy wheat from Russia, says envoy to Moscow

World Tuesday 18/October/2022 09:57 AM
Pakistan plans to buy wheat from Russia, says envoy to Moscow

Moscow: Heavily impacted by the unprecedented floods throughout the country, Pakistan is now planning to buy wheat from sanction-hit Russia amid the ongoing conflict in Ukraine.

"The two technical sides are already discussing that. We want to procure wheat from Russia," Pakistani Ambassador to Moscow Shafqat Ali Khan said in an interview with the news agency TASS. The Pakistani ambassador said they look to Russia as a long-term and stable partner when it comes to food supplies amid the food crisis.

"...Russia has emerged as a new supplier for us, earlier it used to be different other countries. We look to Russia as a long-term, stable partner when it comes to food supplies for us," he said.

According to Dawn, Pakistan is staring at a possible food crisis after the production of wheat in the upcoming Rabi season is expected to drop as farmers look out for alternative crops due to low-profit margins.

The Pakistani envoy said both countries are also discussing the possibility of switching to settlements in national currencies in trade.
"That is one of the areas under discussion. The two sides, the central banks are trying to work out a series of practical questions. Russia has a very strong experience in dealing with so many countries. We don't have experience with trading in local currencies. So, this is something we would want to learn," he told TASS.

Shafqat Ali Khan also noted that the parties also intend to discuss the possibility of trading in yuan.

"Bilateral trade is extremely important for us. Some bilateral trade relationships going down may not impact Russia, but it impacts us deeply. We don't want our trade with Russia to suffer," he said.

Notably, these talks on wheat procurement and trade in domestic currencies come amid the diplomatic row over US President Joe Biden's remark on Pakistan.

At a Democratic party event, US President described the south Asian country as "one of the most dangerous nations" in the world which holds "nuclear weapons without any cohesion."