BAKU, Azerbaijan: Pakistan’s Ambassador in Baku Bilal Hayee on Wednesday joined the senior officials of the Azerbaijani government and corporate leaders for the inauguration of the Pakistan-Azerbaijan Economic Cooperation Chamber (PAKAZCHAM) at Hilton Baku Hotel.
The ceremony commenced with the opening remarks by the Chairman of the Board of PAKAZCHAM Azer Akbarov and a presentation by the President of the Chamber Khurram Bhatti.
Khurram Bhatti shared the comprehensive profile of existing Pakistan Azerbaijan economic ties and highlighted the huge potential for further enhancing the bilateral cooperation particularly in areas such as agriculture, industry, IT, and tourism.
Khurram Bhatti explained that the Chamber would provide a permanent platform to the business entities in Pakistan and Azerbaijan for mutually beneficial commercial interactions and expanding the bilateral trade and investment regime.
The Deputy Minister of Economy Elnur Aliyev, the Deputy Minister of Foreign Affairs Elnur Mammadov as well as representative of Azerbaijan Export and Investment Promotion Foundation (AZPROMO) also made remarks during the event and reiterated the commitment of the Azerbaijani leadership to deepen economic partnership with Pakistan.
They lauded Pakistan’s consistent support to Azerbaijan during its legitimate campaign to liberate the occupied territories.
Inviting the Pakistani investors and businessmen to come to Azerbaijan, the Azerbaijani officials conveyed their interest of having a Preferential Trade Agreement with Pakistan in order to boost the bilateral trade.
In his concluding remarks, Ambassador Bilal Hayee noted that the motivation behind the establishment of this Chamber came from the mutual vision and guidance of the leadership to forge a strong economic partnership between Pakistan and Azerbaijan.
Ambassador Bilal Hayee hoped that the Chamber would play an active role in bringing the business communities on both sides closer for strengthening economic relations between the two brotherly countries.
The ambassador highlighted the key areas for potential engagement including energy, agricultural products, surgical instruments, and pharmaceutical products. The tourism and Information Technology sectors also offered immense opportunities to both sides.
Ambassador Bilal Hayee encouraged the business entities in Pakistan and Azerbaijan to become members of the Pakistan Azerbaijan Economic Cooperation Chamber to make it an effective and robust organization for the mutual benefit of the two brotherly countries.
The event was a live webcast for business representatives in Pakistan.
The PAKAZCHAM is a not-for-profit legal entity registered with the Ministry of Justice of Azerbaijan. Founders of the Chamber include some prominent Pakistani as well as Azerbaijani nationals.
The Chamber will be based in Baku with a permanent office and staff.
After the inauguration, membership of the Chamber has been opened to corporate and business entities of Pakistan and Azerbaijan.