KARACHI: Azerbaijan Ambassador in Pakistan Khazar Farhadov has invited Pakistani investors to invest in Azerbaijan.
Speaking at a meeting of FPCCI, he said Special Economic Zones (provided inexpensive land, lower taxes, investor protection, no regulatory interference, reliable utilities.
Mian Nasser Hyatt Maggo, President FPCCI, said that Business-to-Business (B2B) and People-to-People (P2P) linkages, relations and joint activities ultimately translate into bilateral trade, investment and economic cooperation. He called for MoU between the apex federal chambers of both the countries for fast-tracking B2B cooperation.
Maggo said that Azerbaijan can benefit from textiles, fruits, rice, surgical goods, pharmaceuticals and IT expertise of Pakistan at competitive rates; while the land cargo transportation route has started between Pakistan-Azerbaijan-Turkey under TIR Convention through cargo trucks.
He called on traders on both sides to make full use of the cost-effective, time-saving and dependable alternative that TIR has provided; as cargo trucks can reach Azerbaijan from Pakistan in merely five days.
Ather Sultan Chawla, VP FPCCI called for an open-door and facilitative visa regime for Pakistani business community to promote economic and commercial tourism to enable better understanding and exploration of trade, investment and joint venture opportunities.
Engr MA Jabbar, former VP FPCCI, said that Pakistani investors and entrepreneurs will be willing to invest and build partnerships and joint ventures, if there is no unnecessary governmental and regulatory interferences and inspections.
He added that unfortunately, in Pakistan, the manufacturers have to endure as many as 57 regulatory inspections from various governmental ministries, departments and institutions; and, that translates into a lot of wastage of precious time.
Copyright Business Recorder, 2022
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