In this photo released by Karachi Port Trust, a Russian oil cargo carrying discounted crude, is anchored at a port, in Karachi, Pakistan, on June 11, 2023. The Pakistani government welcomed the arrival of the first shipment of discounted crude from Russia under a key deal between Islamabad and Moscow. (PHOTO / KARACHI PORT TRUST VIA AP)

ISLAMABAD - A Memorandum of Understanding (MoU) has been signed between Pakistan Customs and the Federal Customs Service of the Russian Federation to exchange statistical data on mutual trade, on the sidelines of the Saint Petersburg International Economic Forum (SPIEF), Pakistan's Ministry of Commerce said in a statement here.

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In order to implement this MoU, both sides will cooperate to exchange information on the methodology used for maintaining foreign trade statistics, its significant changes, as well as the exchange of statistical data on mutual trade, the statement said on Thursday.

Both sides will cooperate to exchange information on the methodology used for maintaining foreign trade statistics, its significant changes, as well as the exchange of statistical data on mutual trade

However, the data which is not subject to disclosure or constituting a state or commercial secret, will not be included in the exchanged information, the statement added.

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"The purposes of exchanging information on the methodology used for maintaining foreign trade statistics, as well as the exchange of statistical data defined in this Memorandum, will be to provide both parties with the necessary information on mutual trade," the statement read.