ISLAMABAD: Pakistani business professionals can gain access to the Central Asian markets by cashing in on investment opportunity in the new economic zones in Azerbaijan which provide 10 years tax exemption.
The Azerbaijani government and business professionals are keen that Pakistani trade and business community must avail this opportunity. Ten years is enough time to establish a business or trade entity. It will not only help improve the business prospects, but great manpower of country can also benefit from it.
Former senior vice president of Islamabad Chamber of Commerce and Industry (ICCI) Muhammad Naveed Malik shared these views with WealthPK upon his return from Azerbaijan. He was one of the delegates of ICCI members’ recent visit to Azerbaijan for the promotion of bilateral business linkages.
Continuing the discussion, he said that the “Business Opportunities Conference (BOC)” in Baku has proved a success to access the international market. About 120 participants from multiple trades and business sectors including construction and real estate, marble and granite, pharmaceuticals, construction material, light engineering, textiles, food, healthcare, and IT and telecom attended the event. Such opportunities are important for Pakistani traders and the business community seeking new trends.
Naveed said that the interaction of different Azerbaijani traders and business professionals showed that they are interested in joint ventures, partnerships, and investments with Pakistani partners. An Azerbaijani delegation of different trades and business sectors is expected to visit Pakistan in the near future. Pakistani IT experts have also shown their interest to organize an IT expo in Baku.
Moreover, he said that as he was associated with the real estate sector in Pakistan, he observed that Azerbaijani professionals were keen to invest in Pakistan. “Their queries showed their keen interest in this sector concerning buying, selling, investing, and trading construction material and techniques on both sides,” he said.
“The start of regular direct flights towards Azerbaijan and the efforts to establish proper road linkages are providing a ray of hope for a smooth trading network. Small and medium-sized enterprises (SMEs) and entrepreneurs belonging to both nations can find a good chance by the arrangement of such type of conferences,” he said.
Azerbaijan is going to be the gateway towards the Central Asian market for Pakistani professionals. Naveed also shared that memorandums of understanding (MoUs) of cooperation between the ICCI and Pak-Azerbaijan Economic Cooperation Chamber as well as between Pakistani and Azerbaijani companies were signed on the occasion.
“Regular visits to international trade forums must be a part of our professional activities. In this way, new ideas are conceived and trends are set,” he stated.
To meet the current economic challenges, it is important for Pakistan to explore new markets. Economic zones in Pakistan established under the China-Pakistan Economic Corridor (CPEC) are also a point of interest for the international traders and business fellows. Pakistan must market its own scope and form policies to get benefits available at other international forums.
