Pakistan settles decades-old trade dispute with Russia

Islamabad has finally decided to sign a deal with Moscow to settle a 39-year old exporters’ claims case pending since the disintegration of the Soviet Union, paving the way for Russia to invest over $ 8Bn in Pakistan. Under the agreement, the Pakistani govt. will return $ 93.5Mn to Russia within 90 days of the signing and clear pending exporters’ claims to the tune of $ 23.8Mn. According to Russian law, it cannot invest in countries with which it has trade disputes.