Prime Minister Shaukat Aziz and Russian Premier Mikhail Fradkov in wide-ranging talks here on Wednesday noted growing ties between Pakistan and Russia, and agreed on enhancing cooperation in the areas of trade and investment to promote economic relations.

The two leaders headed their respective sides at the talks held at the Prime Minister House.

The discussions covered all aspects of bilateral relations, ranging from political, economic, security to cultural cooperation.

Shaukat thanked Russia for its support to Pakistan for getting observer status at the Shanghai Cooperation Organisation (SCO) that includes as its members China, Russia, Kyrgyzstan, Tajikistan, Kazakhstan and Uzbekistan. Pakistan was given the observer seat along with Iran and India at the July SCO summit in Kazak capital Astana. Mongolia was already observer member.

Shaukat said Russia was a major power in the world and could play critical role in fostering cooperation and peace in the region.

He expressed Pakistan’s desire for expanding ties with Russia in multi-faceted fields. The prime minister recalled the Russian support in oil and gas exploration and setting up Pakistan’s first Steel Mills.

He said Russian company Gazprom has signed an MoU with Pakistan for cooperation in multi-national gas pipelines projects. He identified telecommunication, railways, oil and gas and power as some of the areas where the two countries could cooperate for mutual benefit.