PAKISTAN-AZERBAIJAN CARRY GREAT POTENTIAL FOR BILATERAL TRADE -MINISTER COMMERCE CALLED ON BY AMBASSADOR ALI ALIZADE

Founder Editor Tazeen Akhtar..
Islamabad: May 10, 2018-Ambassador of the Republic of Azerbaijan to Pakistan Ali Alizada called on the Federal Minister for Commerce and Textile, Muhammad Pervaiz Malik today in Islamabad. Commerce Minister welcomed the ambassador and said that Pakistan and Azerbaijan enjoy friendly and cooperative relations. 
 
Commerce Minister said that there exists great potential between the two countries but the bilateral trade is not a true reflection of that. 
 
Ambassador of the Republic of Azerbaijan to Pakistan Ali Alizada said that Pakistan is a lucrative market for investors from Azerbaijan and they are keenly interested in investment. He also agreed with the minister’s proposal for increased interaction and institutional arrangements to discuss trade related issues and identify areas of interest to boost bilateral trade and cooperation. 
 
Commerce Minister said that there exists good scope for export of ready-made garments, cotton products, engineering goods, consumer goods, pharmaceuticals, rice, textile fabrics, sports goods, surgical instruments and tents from Pakistan and import of non-ferrous metals, oil and oil products, canned fruit juices, raw cotton, LPG from Azerbaijan. “There is need to increase the Business to Business & Government to Government interactions and exchange of delegations to identify the business opportunities that will in turn result in increasing the Trade volume”, he added. 
 
The first meeting of the Pakistan-Azerbaijan Joint Working Group on Trade was held on July 27, 2017 at Baku, Azerbaijan. Mr. Mohammad Younus Dagha, Secretary, Ministry of Commerce was the Co-chair from Pakistan side and Mr. Sahil Babayev, Deputy Minister, Ministry of Economy, from Azerbaijan side. The issues of Tariff and Non-Tariff, exploring possibility of having bilateral PTA and regional connectivity came under discussion. 
 
Commerce Minister informed the ambassador that in order to enhance and diversify trade with Azerbaijan, Ministry of Commerce has prepared a draft MoU on five year trade cooperation plan that has been shared with the Ministry of Foreign Affairs for onward transmission to the relevant authorities of Azerbaijan for their comments but response from Azerbaijan side is awaited. 
 
Commerce Minister said that Pakistan is a profitable market and investors from Azerbaijan should take full advantage of it by investing in different sectors. He said that Pakistani government and Ministry of Commerce & Textile will provide full support in this regard.