Business, Global

KCCI members invited to invest in Azerbaijan

KARACHI: Ambassador of Azerbaijan in Pakistan, Ali Alizada has invited the members of Karachi Chamber of Commerce and Industry to set up their industries, particularly the pharmaceutical units at Azerbaijan’s Free Trade Zone in Baku, where they can enjoy numerous facilities in a business friendly atmosphere.

The pharmaceutical products cannot only be supplied to the Azerbaijani market but also to other Central Asian Republics as there was a huge demand for pharma products in the region , he said during interactive session with the members of KCCI at the Chamber, said KCCI press release on Tuesday.

He sought KCCI’s assistance in finding a suitable and credible partner who could supply rice and textiles in the Azerbaijani market as businessmen were keen to import these products from Pakistan whereas they can also strawberries, grapes and pomegranates to Pakistani market. Referring to China-Pakistan Economic Corridor, Ali Alizada said that Azerbaijan and Iran were also working together on a railway project to connect Asia with Europe.

This rail road link was important as it will significantly facilitate and expedite exchange of goods and trade in the region, he added. 

President KCCI Muffasar Atta Malik, Senior Vice President KCCI Abdul Basit Abdul Razzak, Vice President Rehan Hanif and KCCI Managing Committee members attended the meeting.

President KCCI Muffasar Atta Malik informed that during Fiscal Year 2017, Pakistan’s export to Azerbaijan stood at $17.06 million and imports figured $ $0.04 million.

He urged that the business communities of the two brotherly countries would have to work together to increase the negligible trade.

This could be through more exchanges of trade delegations, constant interactions and other trade promotional activities.