Punjab, Azerbaijan discuss investment

LAHORE: A delegation from Azerbaijan related to livestock, pharmaceuticals and other sectors met with Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain.

In the meeting held in the Department of Industries and Commerce, they discussed increasing trade between Pakistan and Azerbaijan. The provincial minister informed about investment opportunities in various sectors.

Shafay Hussain talking to the delegation, said that it is the best time to increase trade between Pakistan and Azerbaijan. Punjab has a conducive environment for investment and excellent facilities are being provided to investors. He said that an agreement has been signed between the Punjab Agriculture and Meat Company and an Azeri company to operate the closed plant of the company. Under the agreement, the Azeri company will operate the closed plant and provide the Punjab government with a substantial amount every month as plant rent, while PAMCO will provide all possible facilities to the Azeri company to operate the plant. The operation of the plant will increase meat export. He said that cooperation with Azerbaijan in the refinery and tourism sectors can be expanded. He said that there is a need to review the increase in exports of goods needed by Russia. If the Azerbaijani delegation gives a list of the required goods, the government will arrange for the export of these goods. The minister said that pharmaceutical products from Pakistan were being exported to Europe and other countries. Further steps will be taken to increase the exports of pharmaceutical products.

The head of the delegation, Mr Babek, said that they wanted to increase trade with Pakistan. The Azeri government is going to invest $2 billion in Pakistan. The delegation included Mr Gabil Asgarov, founder of PRAGMA PHARM, Mr Babek and others. Punjab Board of Investment Director Dr Imran Hashmi was also present in the meeting.