By Aitizaz Hassan ISLAMABAD, March 04 (INP-WealthPK): The Skolkovo Foundation, Russia’s principal agency for development and commercialisation of advanced technologies, and the Special Technology Zones Authority (STZA) of Pakistan will collaborate to enhance bilateral cooperation in the technology sector, foster business relations and increase exchanges between the scientific and technological institutions of the two countries. Under the collaboration, the government of Pakistan will engage the Russian digital entrepreneurs to develop the circular economy, according to WealthPK. The government is also keen to involve the IT sector to reproduce the electronic waste on the concept of the circular economy, which applies to almost every industry ranging from clothing, construction, agriculture, food, automobiles, telecom, furniture, to name a few. Asif Shuja Khan, former director general of Pakistan’s Environmental Protection Agency (EPA), told WealthPK that circular economy is a new production and consumption model that ensures sustainable growth over time. “With the circular economy, we can drive the optimisation of resources, reduce the consumption of raw materials, and recover waste by recycling or giving it a second life as a new product.” He told WealthPK that electronic waste is very valuable, but Pakistan doesn’t have efficient facilities to recover the electronic waste. “It is a good initiative of the government to reuse the waste in different industries,” he said while referring to the collaboration between the Russian and Pakistani entities. According to Asif Shuja, recycling the e-waste is very expensive and you need to hire the international companies at high rates. The former DG of the EPA said the agreement will help reuse the rare electronic products in an economical way. He said this way the lifecycle of products will be extended, waste reused and a more efficient and sustainable production model will be established over time. “The idea arises from imitating nature, where everything has value and everything is used, where waste becomes a new resource. In this way, the balance between progress and sustainability is maintained.” During Prime Minister Imran Khan’s visit to Russia, the Skolkovo Foundation and the STZA had signed a Letter of Intent to enhance bilateral cooperation in the technology sector, increase exchanges between the scientific and technological institutions, and foster business relations. The STZA’s strategic partnership with the Skolkovo Foundation will pave the way for the introduction of Russian technologies in Pakistan and open doors for leading Russian IT companies and organisations to invest and operate in Pakistan’s Special Technology Zones. The Skolkovo Foundation and the STZA intend to cooperate for developing innovation centres and establishing research and development institutes across Pakistan to achieve technological advancements, especially in the areas of circular economy, low carbon development projects, clean energy and digital transformation.