Pakistan - Azerbaijan joint chamber of commerce planned

Pakistan - Azerbaijan joint chamber of commerce planned

KARACHI (APP) : Federation of Pakistan Chambers of Commerce and Industry's (FPCCI) Standing Committee on Horticulture Exports has emphasized on formation of joint chamber of commerce and industry between Pakistan and Azerbaijan to boost bilateral trade and investment.

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It has also called for strengthening communication linkages and removing travel restrictions to boost bilateral trade. Silk Road is the main key area for this purpose through which Central Asian countries are linked, said the Committee's Chairman Ahmad Jawad in a statement here Friday.

He said that by taking advantage of geo-strategic locations of Pakistan, Azerbaijan could export their consignments through Gwadar and other ports of Karachi to SAARC, ASEAN and GCC countries.

Whereas, he said, Pakistan could export its value-added agricultural products like mangoes, dates, fruits and sports goods to Azerbaijan. Pakistan's basmati rice has a huge demand in Azerbaijan.

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Similarly, the two countries also have a potential of joint ventures in pharmaceutical and manufacturing of surgical goods.

Jawad said that the volume of annual trade between the two countries during last 5 years remained between $ 17 to 25 million only, which did not correspond to the level of existing mutual political goodwill between the two nations.

Pakistan-Azerbaijan Joint Ministerial Commission had also been established. Over 30 Memorandum of Understandings (MoUs) have been signed but most of them have not been followed up, Ahmad Jawad pointed out.

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Azerbaijan could help Pakistan in energy sector as it had a vast range of renewable energy including wind, solar and hydro energy.

It is also old oil exporting country.

Pakistan had strong textile base and Azerbaijan could benefit, he said.

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