Shafay, Azeri envoy discuss promotion of bilateral trade

LAHORE:Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain said that increasing the trade volume between Pakistan and Azerbaijan is the need of the hour and practical steps will have to be taken to promote bilateral trade between the two countries.

The provincial minister expressed these views during his meeting with Azerbaijan Ambassador to Pakistan Khizr Faryadov at Punjab Small Industries Corporation (PSIC) House here on Friday.

The ambassador’s wife Tarana Faryadov, President of Azerbaijan Trading House Adil Shuja Butt, Shujaat Kazmi, Director Punjab Board of Investment and Trade (PBIT) Dr Imran Hashmi and others were also present on the occasion.

Effective steps were agreed upon in the meeting to promote trade between Pakistan and Azerbaijan. Shafay observed that the bilateral trade can be promoted by mutual exchanges of trade delegations and increasing public-to-public contacts.

He said that there are excellent opportunities for foreign investors in the Special Economic Zones of Punjab. The textile industry will be set up in the Garment City to be built in Quaid-e-Azam Business Park Sheikhupura. Besides this, a pharmaceutical valley will also be built in Quaid-e-Azam Business Park Sheikhupura to promote the pharmaceutical industry.

The minister said that Azerbaijani investors should invest in Punjab and government will provide them all possible facilities. He said that Gujrat is famous for furniture, fans and cutlery, and a new industrial estate is also being built in Gujrat. He said that the provision of world-class industrial infrastructure is being ensured in the industrial estates.

Ambassador of Azerbaijan Khizr Faryadov said that an Azerbaijan Trading House has been established in Lahore to facilitate the business community. Azerbaijan will invest $2 billion in Pakistan and MoUs have already been signed with the government of Pakistan in this regard. He also visited the handicrafts shop and highly appreciated the quality of the handicrafts. Shafay presented a gift of handicrafts to the ambassador.