GBA and Pakistan Ambassador discussed regional market dynamics
Baku, 30 November 2022 (GNP): Global Business Alliance (GBA), a multisectoral business delegation from Pakistan, was met in Baku by Bilal Hayee, the country’s ambassador to Azerbaijan and Georgia.
Ambassador Bilala gave the team a briefing on the dynamics of the local and regional markets. The importance of interpersonal interactions in boosting bilateral trade and investment was also underlined at the meeting.
From November 26 to December 3, 2022, the GBA will lead a business delegation to Azerbaijan to boost bilateral commerce between Pakistan and Azerbaijan.
Members of the delegation represent numerous business organizations and industries. The business delegation includes representatives from the textile, clothing, medical supply, tourism, sports, food, and cookware industries.
Interacting with prospective partners will be on the visit’s agenda in an effort to develop and expand the commercial ties between the two nations.
Global Business Alliance (GBA)
GBA is a platform for networking and boosting international commerce, business, and services on a bilateral and multilateral basis. It is officially registered with the Pakistani government.
In order to give forum members a competitive edge in seeking possibilities for goal-oriented growth, cooperation, and strategic alliance from across the world, it offers networks of international diplomatic missions, governments, commerce, and business companies.
Pakistan-Azerbaijan Business Ties
Strategic partners Pakistan and Azerbaijan are. The two work together in a variety of contexts, including the military and business worlds.
In order to improve ties in commerce and business, Pakistan’s Chamber of Commerce and Industry in Karachi said in November 2017 that it intended to assist Alyat, Azerbaijan, in creating a Free Economic Zone (FEZ). In their subsequent discussions, Pakistan and Azerbaijan have highlighted the significance of the “North-South” transportation route in the long run.
This corridor may connect the railway systems of Azerbaijan, Iran, and the Russian Federation. According to agreements that have already been made, both countries want to enhance bilateral trade turnover over the next five years.
Azerbaijan is an important economic partner for Pakistan, a nation that imports oil and gas thanks to its enormous energy resources.
A special task force on the extension of bilateral investment cooperation has been established between the Ministries of Trade of Pakistan and Azerbaijan’s Economy in order to achieve further trade growth.
In the preceding ten years, the Pakistani side is thought to have contributed about 4.2 million USD to the Azerbaijani economy. However, Pakistan intends to gain from Azerbaijan’s domestic market by exporting goods from the leather, pharmaceutical, energy, and light agricultural equipment industries.
