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ISLAMABAD: Azerbaijan Ambassador, Ali Alizada has urged the Pakistani business community to focus on promoting trade relations that would yield highly beneficial results for the economies of both countries.
During a meeting with the business community at the Islamabad Chamber of Commerce and Industry (ICCI), he said Azerbaijan is keen to promote bilateral trade with Pakistan as both countries have tremendous scope to enhance trade and economic cooperation in many fields.
The ambassador informed the businessmen that Azerbaijan has signed free trade agreements with 10 countries of the region including Russia, therefore, by investing in Azerbaijan and increasing trade cooperation with it, Pakistani investors could promote exports to all these regional countries.
Alizada said, “Covid-19 has caused a slowdown in trade activity between the two countries, but after the coronavirus is over, bilateral trade is expected to boost.”
He apprised the business community that Azerbaijan was establishing a free economic zone next to the port of Baku and Pakistani investors should explore joint ventures and investment in this facility.
“Azerbaijan is interested in developing railway links and direct flights with Pakistan soon after the end of Covid-19.” He identified agriculture, industry, tourism, mining, and defense as potential areas of bilateral cooperation between Azerbaijan and Pakistan.
The ambassador said Pakistani pharmaceutical companies have huge potential in his country and they should set up manufacturing plants in Azerbaijan.
The envoy urged the Pakistani business community to attend an online business forum planned in March to explore business collaboration with the counterparts of Azerbaijan.
On the occasion, ICCI President Sardar Yasir Ilyas Khan said the bilateral trade of around $16-17 million between Pakistan and Azerbaijan was quite nominal given the actual potential of the two countries and efforts were needed from both sides to improve it.
He highlighted that many good quality Pakistani products including pharmaceuticals, cosmetics, surgical instruments, sports goods, and other commodities have a scope in Azerbaijan and it should increase imports of these products from Pakistan.
