Baku. 15 October. REPORT.AZ/ The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Standing Committee on Horticulture on Friday underlined the need for Pakistan and Azerbaijan to form a joint chamber of commerce and industry for boosting bilateral trade and investment, Report citing the Pakistan's The Express Tribune.
It called for strengthening communication linkages and removing travel restrictions to enhance trade ties.
“Silk route is the key area through which Central Asian countries are linked,” Committee Chairman Ahmad Jawad said in a statement. “By taking advantage of the geo-strategic location of Pakistan, Azerbaijan can export its goods through Gwadar and other ports of Karachi to Saarc, Asean and GCC member countries.” On the other hand, he pointed out, Pakistan could export its value-added agricultural products like mangoes, dates, fruits and sports goods to Azerbaijan.
Jawad said Pakistan’s basmati rice had a huge demand in Azerbaijan and the two countries also had the potential for joint ventures in the manufacturing of pharmaceutical and surgical products.
The volume of annual trade between the two countries for the past five years has remained between $17 million and $25 million, which, according to Jawad, does not reflect the existing political goodwill between the two nations.
He pointed out that despite the establishment of Pakistan-Azerbaijan Joint Ministerial Commission and signing of over 30 memoranda of understanding, there had not been much progress on trade between the two nations.
'Azerbaijan could also help Pakistan in the energy sector as it has a vast range of renewable energy including wind, solar and hydroelectric power. It is also an old oil exporting country', he said.