BUSINESS FORUM OF AZERBAIJANI AND PAKISTANI BUSINESSMEN HELD IN BAKU
The event brought together businessmen engaged in the production of pharmaceutics, representatives of the Ministries of Health and Taxes.
AEC President Alakbar Mammadov and ambassador of Pakistan to Azerbaijan Javid Gureyshi highlighted the importance of the meeting.
Head of the group of Pakistani businessmen Sarfraz Ahmad said the forum will help expand business ties between Azerbaijani and Pakistani businessmen, and increase the export of pharmaceutical products. He said Pakistan’s export turnover amounts to $16 billion. Pharmaceutical products constitute $80 million of the export. Some 400 companies in Pakistan are engaged production of pharmaceutical products.
The government of Azerbaijan set a goal of developing the private sector and attracting foreign investments.
Private sector accounts for 75 percent of the GDP. The foreign trade turnover has made up $7 billion for the past nine months.
Production, processing and packing of agricultural products, tourism, industry, transport, banking, insurance constitute the major part of Azerbaijan’s economy.
Friendly relations exist between Azerbaijan and Pakistan. However, the trade turnover between the two countries is not large enough, coming to just $1.7 million. Pakistan exports only knitted wear, leather and some food products.
There are good laws to boost the export and import between the two countries. Azerbaijan-Pakistan economic commission has worked since 2000. There is the agreement on promotion of investments between the two nations.
The forum participants were informed of the registration of the medicines and medical equipment imported to Azerbaijan, rules of collecting customs duties.
Then, representatives of the Health and Tax Ministries responded to the delegates of the friendly country.
The business forum was followed by bilateral meetings of the businessmen.
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