Pakistan, Azerbaijan can benefit from huge business potential: official

ISLAMABAD: Pakistan-Azerbaijan Economic Cooperation Chamber president Khurram Bhatti has said that both countries have huge potential for further enhancing the bilateral cooperation, particularly in the areas of agriculture, industry, information technology and tourism, a statement received here from Baku said on Wednesday.

Ambassador of Pakistan to Azerbaijan Bilal Hayee on Wednesday joined the senior officials of Azerbaijan’s government and corporate leaders for the inauguration of Pakistan-Azerbaijan Economic Cooperation Chamber at Hilton Baku Hotel.

Bhatti shared the comprehensive profile of the existing Pakistan-Azerbaijan economic ties, and said that the chamber would provide a permanent platform to the business entities in Pakistan and Azerbaijan for mutually beneficial commercial interactions and expanding the bilateral trade and investment regime.

Elnur Aliyev, Deputy Minister of economy; Elnur Mammadov, Deputy Minister of Foreign Affairs, as well as representative of the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) also made remarks during the event and reiterated the commitment of the Azerbaijani leadership to deepen economic partnership with Pakistan.

They lauded Pakistan’s consistent support to Azerbaijan during its campaign to liberate the occupied territories. Inviting the Pakistani investors and businessmen to come to Azerbaijan, the Azerbaijani officials conveyed the interest of having a Preferential Trade Agreement with Pakistan to boost the bilateral trade.

Ambassador Hayee said that the motivation behind the establishment of this chamber came from the mutual vision and guidance of the leadership to forge a strong economic partnership between the two countries. He expressed the hope that the chamber would play an active role in bringing the business communities of the two countries closer for strengthening economic relations.

He also highlighted the key areas for potential engagement, including energy, agricultural products, surgical instruments and pharmaceutical products. Tourism and information technology sectors also offered immense opportunities to both sides, he said, and encouraged the business entities in Pakistan and Azerbaijan to become members of the Pakistan-Azerbaijan Economic Cooperation Chamber to make it an effective and robust organisation.

The chamber is a not-for-profit legal entity registered with the Ministry of Justice of Azerbaijan. Founders of the chamber included some prominent Pakistani, as well as Azerbaijani nationals. The chamber will be based in Baku with a permanent office and staff. After the inauguration, the membership of the chamber would be open to corporate and business entities of the two countries.

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