ISLAMABAD - President Mamnoon Hussain on Thursday stressed on making collective efforts for taking economic relations between Pakistan and Azerbaijan to new heights, urging Azeri investors to take advantage of vast opportunities for investment in Pakistan’s energy sector.
Addressing inaugural ceremony of Pak-Azerbaijan Business forum jointed inaugurated by him and his Azeri counterpart, Ilham Heydar Aliyev in Baku, Mamnoon Hussain said the forum will help promote economies of the two countries.
The President urged for strong bilateral economic ties, adding that Azerbaijan can benefit from the experiences of Pakistan in different sectors. He called upon Azeri businessmen to take advantage of investor friendly policies of Pakistan. The President said Pakistan is also working to expand cooperation with regional economic organizations. The President noted that over a period of time, Pakistan and Azerbaijan have developed expertise in different fields which can be shared for mutual benefits adding that pharmaceutical products, surgical instruments, sports goods, defense equipment, readymade garments, rice, fruits and sea food are some of the high quality products of Pakistan awaiting effective introduction in Azeri market.  Likewise, Azerbaijan’s expertise in the field of oil and gas exploration, extraction and refining can potentially bring great benefits to Pakistan, said the President. There is a tremendous potential to significantly increase and diversify the two-way trade for which there is a need to devise joint strategies, added the President.
The President stated that Pakistan’s geography, 180 million people, burgeoning middle class and existence of large coal deposits offer enormous opportunities for foreign investment. Calling upon Azeri businessmen to take advantage of investor friendly policies of Pakistan, the President elaborated that Pakistan offers a liberal investment policy, which includes, 100% equity ownership, full repatriation of capital, tax breaks and customs duty concessions on import of plant, machinery and raw materials. The President said that Pakistan is also working to expand cooperation with regional economic organizations. The traders, industrialists and investors of two countries held very useful and productive discussions on different sectors of mutual interest. They affirmed commitment to expand cooperation between the private sectors of two countries expressing hope that today’s fruitful discussions would result into signing various business agreements in near future.
President of Azerbaijan,Ilham Heydar Azerbaijan assured to assist Pakistan in overcoming its energy problem. The Azeri president said that businessmen of his country are interested to invest in Pakistan. Pakistan and Azerbaijan have agreed to promote bilateral relations in diverse fields with focus on trade.
This has been stated at a joint declaration signed by President Mamnoon Hussain and his Azeri counterpart Ilham Heydar Aliyev after their talks in Baku.
Both the leaders agreed to take steps to promote cooperation in the areas of economy, energy, security, trade, tourism, transport, science and technology, environment, sports, culture and education. The joint declaration declared the visit of President Mamnoon Hussain to Azerbaijan as an historic occasion. The declaration said the visit would provide impetus to bilateral cooperation and called for turning the relationship into a strategic partnership. The declaration also called for early resolution of Kashmir and Nagorno-Karabakh issues which for peace and stability in the region. It was also agreed to expand cooperation between the two sides to curb terrorism, extremism, separatism, organized crimes, smuggling of drugs and arms, and human trafficking.  President Mamnoon Hussain also visited Azerbaijani Parliament. He was briefed about the routine business of Parliament. Later, he held a meeting with Azeri Prime Minister Artur Rasizade. The two leaders discussed ways to promote bilateral cooperation in different fields.