ISLAMABAD - The Pak-Azerbaijan Business Forum, scheduled for September 16 in Baku, will be led by Federal Minister for Commerce Jam Kamal Khan, with Federal Minister for Board of Investment Abdul Aleem Khan also participating.
The Secretary of Commerce will co-chair the 4th Pak-Azerbaijan Joint Working Group meeting. The forum aims to enhance bilateral trade, with 43 Pakistani companies confirmed to attend, span various industries, including rice, fruits, vegetables, processed food, pharmaceuticals, surgical instruments, glass products, ceramics, transport and logistics, IT, engineering goods, and chemicals.
Their participation is expected to explore potential business ventures and further strengthen trade ties between Pakistan and Azerbaijan, Jam Kamal Khan added. The forum will explore business opportunities and strengthen trade ties between the two nations. Ambassador Khazar Farhadov assured visa facilitation for Pakistani participants and highlighted broader areas of cooperation, including renewable energy and infrastructure.
He also announced the upcoming inauguration of the Azerbaijan-Pakistan Chamber of Commerce in Islamabad. The discussion emphasized the importance of ensuring robust participation from Pakistan’s private sector to maximize opportunities for collaboration. Minister Jam Kamal Khan expressed optimism about the forum, describing it as a crucial step towards increasing trade volumes and laying the groundwork for sustained economic collaboration between the two countries. Meanwhile, Minister for Commerce, Jam Kamal Khan said that the government is steadfast in its commitment to reducing the tax burden on exporters. The minister assured industry representatives during a key meeting with the Sectoral Council for Sports Goods.
The virtual meeting, held at the Ministry of Commerce, focused on addressing the challenges faced by the sports goods industry, with particular attention to taxation and energy production policies. During the discussion, the minister pledged to reconsider the current policy that imposes a cap of 100KW on solar energy production for export-oriented industries. This move is expected to alleviate operational constraints and enhance the competitiveness of the sports goods sector, which heavily relies on sustainable and cost-effective energy solutions.
Furthermore, Jam agreed to present the industry’s proposals to the National Export Development Board, advocating for the retention of the Fixed Tax Regime. Exporters emphasized that this regime is crucial for shielding them from the potential harassment associated with the Normal Tax Regime, which involves multiple tax departments. The meeting underscored the government’s ongoing efforts to foster a conducive environment for exporters, particularly in the sports goods sector, which is a significant contributor to the country’s economy.
