On the sidelines of 27th St. Petersburg International Economic Forum (SPIEF), Pakistan and Russia on Friday signed a Memorandum of Understanding (MoU) on Cooperation in Railways Sector.

Through this MoU, the two sides aim to look for opportunities to implement railways up-gradation projects and other initiatives of this vital sector, says a press release received here from Saint Petersburg.

The MoU also sets the tone for potential future collaboration between the relevant companies operating in this sector, and aims to promote and facilitate international cargo transport.

The MoU was signed by Ambassador Muhammad Khalid Jamali from Pakistan side and Deputy Transport Minister D.S Zverev from the Russian side.