The annual bilateral trade between Pakistan and Russia saw more than 50 percent increase last year, exceeding $ 1 billion, the highest ever between the two countries, a top Russian parliamentary official said on Monday.

In the first eight months of the ongoing year, the bilateral trade between Pakistan and Russia has increased by 13 percent— from January to August— said Valentina Matviyenko, the Chairwoman/ Speaker of Russia’s Federation Council of the Federal Assembly, addressing a special Senate session convened in her honour.

She is leading a three day-visit of a Russian parliamentary delegation to Pakistan (27-29 October) on the invitation of Chairman Senate Yousaf Raza Gilani.

“There are many promising areas for the development of economic cooperation including energy and agro-industrial fields,” she said.

Last year, the first shipment of Russian crude oil arrived at the port of Karachi, and by the end of the year, its share in Russian exports to Pakistan exceeded 20 percent, she added.

The visiting delegate was of the view that Russia was continuously contributing to Pakistan’s food security and ensuring grains supply to Pakistani market.

Despite unfavourable weather conditions, Russian farmers have harvested over 132 million tonnes of grain this year that guarantees Russia’s reliability as one of the world’s key agricultural exporters, she said.

“Developing international transport corridors, the North South International Transport Corridor, is vital for our countries— we welcome Pakistan’s interest in this project,” the Russian parliamentary official said.

Both Pakistan and Russia are interested in the settlement of key issues related to Afghanistan, she added.

She supported Pakistan’s interests in “deepening cooperation with BRICS, a centre of multi-polarity where all participants favour equality, good neighbourliness and mutual respect.”

The Russian legislature’s speaker welcomed the Pakistan’s election to the United Nations Security Council as non-permanent member for 2025-26.

She added that the erstwhile Soviet Union helped Pakistan develop its oil and gas industry, build major energy facilities and agricultural machinery.

“In the 1970s-80, the USSR assisted in building the Pakistan Steel Mills in Karachi, became a symbol of our friendship,” the lawmaker recalled.

“We are now witnessing the revival of our bilateral cooperation,” she said.

The visiting delegate paid profound tribute to Faiz Ahmad Faiz. “Faiz Ahmad Faiz, one of the greatest Urdu poets, was a sincere friend of our country who translated Rasul Gamzatov’s poetry about Russian great poet Alexander Pushkin and about the heroic defenders of my hometown, Leningrad.”

Earlier, Gilani, the Senate chief, welcomed Matviyenko to Senate. He stressed on the promotion of bilateral ties between Pakistan and Russia, and the role of the parliaments of the two countries in this regard.

Earlier, the visiting Russian official and the chairman Senate held a delegation-level meeting ahead of the special Senate session.