slamabad invites Azerbaijani companies to take advantage of Pakistan- China economic corridor

Azerbaijan is ready to create necessary working conditions for Pakistani companies in the country.

Shahin Mustafayev, Azerbaijani Minister of Economy made remarks at the Azerbaijani-Pakistani Business Meeting in Baku on December 5.

"Pakistani companies show interest in activity in such fields as industry, production of agricultural equipment, accumulators, as well as pharmaceutics,” the minister said.

Saying that Azerbaijan attaches great importance to its relationship with Pakistan, the minister noted that, political, humanitarian relations between the two countries are developing successfully. 

Mustafayev added that Azerbaijan plans to send an export mission to Pakistan late January, 2017. 

Commerce Minister of Pakistan Khurram Dastgir Khan, for his part, voiced that his country invites Azerbaijani companies to participate and take advantage of the economic corridor created between Pakistan and China.

"As you know, an economic corridor worth $ 46 billion has been created between Pakistan and China, and we invite Azerbaijani companies to take advantage of the project and take part in it," he said. 

“We can create joint ventures in textile, pharmaceutical and agricultural areas,” the Pakistani minister added, thus inviting Azerbaijan to hold a conference on business opportunities of the two countries, but this time in Pakistan.

"We want to invite Economy Minister Shahin Mustafayev and Azerbaijani business delegation to Islamabad. We will organize a conference presenting business opportunities of both countries with great pleasure, during which experts and business circles of the two countries will discuss our opportunities, as we want to know the spheres that can interest Azerbaijan," he said.

The trade turnover with Pakistan amounted to 5.82 million in January-October 2016, and this is 3.6 times more than the same period of last year, according to the Azerbaijani State Customs Committee.

The export of Azerbaijani goods increased by 3.47 times or up to $ 0.87 million, while import - by 3.6 times or up to $4.95 million.

Azerbaijan and Pakistan have agreed on the main areas of bilateral economic cooperation, according to Dastgir Khan.

“We have agreed on three main areas to work in. The first area is the creation of a joint working group to review the issue of preferential trade between our countries,” the minister told reporters.

He added that the second area is the development of relations between the two countries’ business circles, as well as creation of joint ventures.

 The third area is the simplification of customs and visa procedures between Pakistan and Azerbaijan, according to Dastgir Khan.

 The Pakistani delegation led by the minister comprises about 80 businessmen representing the country's leading companies specializing in food, textile, pharmaceutical and sports equipment industries.

 Socio-economic development of Azerbaijan, favorable business ambience for foreign investors in the country, transportation corridors, production enterprises and other economic and trade opportunities make Azerbaijan attractive for Pakistani investors.

Earlier, President Ilham Aliyev received Commerce Minister of Pakistan Khurram Dastgir Khan.