Islamaabad: Khazar Farhadov Ambassador of Azerbaijan,  Elnur Ismayilov- First Secretary of the Embassy of Azerbaijan and Elchin Mehdiyev- Third Secretary of the Embassy of Azerbaijan met with the immediate former President of Islamabad Chamber of Commerce and Industry and CEO of Centaurus Sardar Yasir Ilyas Khan to discuss opportunities of mutual business growth between the two countries in the form of enhancing manufacturing and trade co-operation which would help augment further exports.

The envoy said that they are working towards developing a PTA “Preferential Trade Agreement” which would further support the exports from Pakistan towards exporting products and services to Azerbaijan. He said that both countries enjoy excellent relations on the political level however trade relations can be improved further. Azerbaijan has already singed free trade agreements with around 10 countries in the region, therefore Pakistani exports can also benefit from these FTAs by trading through Azerbaijan. H.E also emphasised on the establishment of a railway route which would expedite the transport of goods and services between the two nations. He identified that agriculture, energy, tourism, mining, hospitality and defence industries as potential areas of bilateral cooperation between Azerbaijan and Pakistan. H.E also briefed the former President that Azerbaijan was establishing a free economic zone near the Baku port which could be explored by Pakistani businessmen for the possibility of joint ventures.

Sardar Yasir Ilyas Khan stressed that Pakistan had changed its approach and has aligned its policies to attract foreign investors and organisations by establishing the essence of one window. He said that the government is focusing on the ease of doing business since they have come into power and our global ratings have gone up by nearly 30 points. Sardar Yasir had committed to organize a seminar with enjoy from Azerbaijan with top companies from various sectors including IT, rice, mango, citrus, leather, pharmaceutical, textile, energy, solar, automobile, marble and hospitality in order to explore all possibilities of forming JVs with companies from Azerbaijan. He also emphasized that SEZs such as the ones in Gwadar are offering 21 year tax holiday in addition to single digit tariff rates which are rather attractive for all companies exploring to setup manufacturing in Pakistan in order to take advantage of the in-expensive labour and close proximity to the shipping port. He also said that Pakistan could consider setting up a grand prix circuit such as the one in Baku which would attract hundreds and thousands of tourists from around the world since motor sports is admired just as much in Pakistan. Representing the business community, Sardar Yasir promised to extend all possible support towards creating a stronger liaison between all foreign missions serving in Pakistan and the members from the business community as well as helping bridge the gap with relevant government officials to help attract foreign investment in Pakistan which would lead to greater economic prosperity.