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Five-year plan: Plan grown to raise exports to Azerbaijan to $500m

  • November 02, 2016

ISLAMABAD: The Ministry of Commerce and Ministry of Defence Production has grown a corner movement devise to raise Pakistan’s exports to Azerbaijan adult to $500 million in a subsequent 5 years.

An central in a Ministry of Commerce common that following Prime Minister Nawaz Sharif’s revisit to Azerbaijan final month, an Inter-Ministerial Working Group assembly took a preference to raise exports to Azerbaijan to $500 million from a existent value of $60 million.

The assembly was co-chaired by Commerce Minister Khurram Dastgir and Minister for Defence Production Rana Tanveer. The assembly motionless to take all probable stairs to enhance and variegate products and services exported to a Central Asian nation in a entrance years, where a poignant intensity exists to boat Pakistani commodities.

Earlier, after his revisit to Azerbaijan, a primary apportion had constituted a committee, headed by Minister for Commerce, and enclosed Secretaries Ministries of Commerce, Defence Production, Industries and Production, Information Technology and Telecommunication, National Food Security and Research and Foreign Affairs as a members for enhancing trade and mercantile family with Azerbaijan.

The secretary commerce has been nominated as a focal chairman for trade and mercantile family and a cabinet was entrusted with a shortcoming of finalising a approach forward.

It was also motionless during a assembly that underneath a movement devise a commerce apportion will lead a commission to Azerbaijan after this month, that would contain of distinguished businessmen from export-oriented sectors of Pakistan.

On a side-lines of a visit, a assembly of Pakistan-Azerbaijan Joint Business Council will also be hold in Baku for that a Federation of Pakistan Chambers of Commerce and Industry has already finalised members of a JBC from Pakistan’s side.

The devise also includes holding trade exhibitions and restoring trade connectivity between a dual countries. After soliciting contention from all a applicable ministries, a operative organisation motionless to contention a recommendations of a forum to a PM Office within dual weeks.

During a meeting, Dastgir pronounced that Azerbaijan had shown sold seductiveness to import pharmaceuticals and experience-sharing in weave value further from Pakistan as partial of a extended team-work plan.

“We have prepared a Five Years Trade Cooperation Plan to boost shared trade to $500 million and for diversification of trade sectors,” he said.

“The devise envisages extended marketplace entrance to Azerbaijan by favoured trade arrangement, that subsequently will be upgraded into a giveaway trade agreement with mutual consent,” Dastgir added.

Tanveer pronounced that Azerbaijan is some-more prone towards Pakistan to import defence-related products, record and technical training.

It is impending to discuss that Pakistan’s sum exports to Azerbaijan were $60 million by a year 2015-16, dominated by a singular product: rice.

However, Pakistan’s imports from Azerbaijan for a same year were usually $0.031 million.

Published in The Express Tribune, Nov 3rd, 2016.

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Article source: http://tribune.com.pk/story/1218837/five-year-plan-plan-developed-enhance-exports-azerbaijan-500m/

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