KARACHI: Transit trade will not only become a source of enormous trade development but also a resource generation and fixed mobilisation of foreign exchange for the country, said Ateeq ur Rehman economic & financial analyst.

He greeted that Pakistan and Azerbaijan have signed 15 agreements and MoUs to boost cooperation, and to enhance the bilateral investment level up to two billion in areas of mutual beneficial projects.

He said besides agreeing to enhance bilateral trade they have also agreed for joint cooperation and joint investments in the field of trade, commerce, tourism, agriculture, health, youth affairs, mines & minerals, petroleum, energy, defence industry, information technology, communication technology, SMEs, culture, transport and above all the transit trade.

This is a wonderful development that on his recent visit to Azerbaijan, Prime Minister Shehbaz Sharif invited government of Azerbaijan to use Karachi Port for the transit trade besides emphasisng the promotion of regional connectivity by constructing rail tracks and roads between the two countries.

For a fact and as per geographical layout, I it is not only the Republic of Azerbaijan but all the Central Asian Countries which are landlocked should avail the opportunity of transit trade by using ports of Karachi, their capabilities, he said adding this will not only facilitate them but also like availing the ease of doing business and multiplier cost saving.

Copyright Business Recorder, 2024