The first Pakistan-Azerbaijan Business Forum was held in Baku, Azerbaijan today, which was presided by President of Islamic Republic of Pakistan H.E.Mamnoon Hussain and President of Republic of Azerbaijan H.E. Ilham Aliyev. The Forum was jointly organized by Pakistan Board of Investment (BOI) and Azerbaijan Export and Investment Promotion Foundation (AZPROMO).The Forum was attended by around 150 businessmen from both the countries. Besides Secretary BOI Mr. Iftikhar Hussain Babar, Ms. Rabiya Javeri Agha, Secretary Trade Development Authority of Pakistan and other senior officers from Ministries of Petroleum & Natural Resources and Private Power Infrastructure Board participated in the Forum. The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) was represented by Mr. Muhammad Waseem Vohra, Vice President, FPCCI.
While addressing the Forum, President Mamnoon Hussain highlighted that Pakistan is following very liberal investment regime in the region with diverse and business friendly incentives. He invited the Azeri as well as Pakistani investors to invest in each other’s country as prospects of co-production, joint ventures with local partners are promising in both the countries. President of Azerbaijan emphasized that there is a dire need to transform strong political relations and commonalties exists between the two countries in to enhanced cooperation in the fields like investments and trade, industrial development and energy etc.
Secretary BOI gave a detailed presentation focusing on investment climate and opportunities for investment in Pakistan. He highlighted strengths and promising economic outlook of Government of Pakistan and invited Azeri investors to invest in Pakistan. He also highlighted that the Government of Pakistan has taken a number of initiatives to attract foreign investment for exploration of new energy resources and to make the existing power system efficient. He stated that government has taken the dual challenges of terrorism and energy crisis head on and significant improvements can be seen on both the fronts.
Secretary TDAP also made a statement that huge potential exist between the two countries to further expand trade volume. While referring the potential she stated that Pharmaceutical products, surgical instruments, sports goods, defense equipment, readymade garments, rice, fruits and sea food of Pakistan can easily enter in to Azeri market.
Representatives of Ministry of Petroleum & Natural Resources and PPIB also spoken about huge investment opportunities in sectors like energy and power and the incentives packages announced by government for these sectors to attract FDIs.
FPCCI also signed an MoU for cooperation with its counterpart. Mr. Waseem Vohra, Vice President FPCCI signed the MoU on behalf of FPCCI.
After main session B2B meetings were also held wherein more than 80 businessmen/investors participated from both sides and held fruitful discussions with their counterparts.
This forum is expected to pave the way for enhancement of trade and investments in both the countries. The delegates visits to each other’s country for exploring possibilities for further expansion of trade will result in close contacts between the Chambers of Commerce and Industry of the two countries.
ISLAMABAD MARCH 12, 2015