Pakistani pharmaceutical companies plan to establish production facilities in Azerbaijan
BAKU, Azerbaijan, Jan. 12
By Fidan Babayeva - Trend:
Pakistani pharmaceutical companies plan to establish manufacturing enterprises in Azerbaijan, Azerbaijani Ambassador to Pakistan Ali Alizade said.
Alizade made the remark during the meeting with representatives of business circles at the Islamabad Chamber of Commerce and Industry (ICCI), Trend reports with reference to the Pakistani media.
“Azerbaijan and Pakistan have great potential for the development of the pharmaceutical industry,” the ambassador added. "Azerbaijan and Pakistan have always had excellent relations at the political level, but trade and economic ties were not at the proper level.”
“Therefore, it is necessary to focus on the development of trade relations, which would give very beneficial results for the economies of both countries,” Alizade said.
“The spread of the coronavirus around the world has caused a slowdown in trade activity between our countries, however, after the end of the pandemic, the volume of bilateral trade is expected to increase," the ambassador said.
While speaking on this occasion, ICCI Head Sardar Yasir Ilyas Khan said that the trade turnover between Pakistan and Azerbaijan in the amount of about $16-17 million is quite nominal, given the real potential of the two countries and efforts are required from both sides to improve it.
ICCI head emphasized that many high-quality Pakistani goods, including pharmaceuticals, cosmetics, surgical instruments, sporting goods, cutlery, electrical appliances, textiles and leather products, furniture, food, fruits, engineering products and consumer goods, rice, are also used in Azerbaijan and this will help to increase import of these goods.
The meeting of Azerbaijani Ambassador to Pakistan Ali Alizade with representatives of business circles was held in the Islamabad Chamber of Commerce and Industry (ICCI).
During the meeting, the Azerbaijani side stressed that Azerbaijan is interested in developing bilateral trade with Pakistan as both countries have great opportunities to expand trade and economic cooperation in many spheres.