Baku. 31 August. REPORT.AZ/ There exists lot of potential for promoting trade and economic relations between Pakistan and Azerbaijan.
Report was told by the president of the Chamber of Islamabad Commerce and Industry, Mr. Muzammil Hussain Sabri.
He stressed that, the level of annual trade between the two countries in the last 5 years remained between US$ 17 to 25 million, which does not correspond with the level of existing mutual political goodwill between the two nations. The lack of direct air links between the two countries is major reason for below potential bilateral trade. ICCI would like to sign MoU with Baku Chamber of Commerce to promote private sectors connectivity and facilitate holding of trade fairs in each other country that will help in promoting two-way trade up to potential.
The official also pointed out that, the best way of promoting trade cooperation is to establish direct links and encourage frequent exchange of trade delegations in order to explore new avenues of mutual cooperation.
During the visit of Turkish Airlines General Manager to our Chamber, he had informed that his airlines is planning to start direct flights from Islamabad to Baku by the end of September this year. So we expect launch of direct flights between the two countries by end of September or beginning of October 2015.
Definitely Islamabad Chamber of Commerce and Industry would like to send its delegations to Azerbaijan to explore new opportunities of promoting two-way trade. Let me share with you that it was ICCI that had approached Turkish Airlines for establishing direct air links between Istanbul, Islamabad and Baku and we are thankful to Turkish Airlines for bringing our idea into implementation and starting direct flights from Islamabad to Baku.
Pakistan is an energy deficient country while Azerbaijan is an energy-rich country. So there is lot of potential for energy cooperation between the two countries. Moreover, Pakistan produces quality agro products including Basmati rice, fruits & vegetables as well as textiles, pharmaceutical, IT products, sports goods and many other products that have huge export potential in Azerbaijan and Central Asia.