On the third day of a visit by a major Pakistani business delegation to Tajikistan, five Memorandum of Understandings (MoUs) have been signed between the business groups of both the countries. One of the MoU signed was between Baig Group, one of the leading textiles manufacturing group in Pakistan and Tajikistan Textile Complex for the upgradation of textile units and manufacturing of value added textile products in Dushanbe with an estimated investment of 25 million euros.
Another addressed cooperation between FPCCI and Tajikistan Chambers of Commerce and Industry to enhance bilateral trade while informing of opportunities to boost trade links in both countries. Another three MoUs were also signed between the trade groups from both sides were also to establish plants for pharmaceutical products, energy, construction products. Pakistani pharma industry has also obtained the orders worth millions of rupees.
The textile MoU signed will be completed through a joint venture in two phases. Under the first phase, creation of a joint venture with the estimated cost to upgrade the functioning of Tajikistan Textile Complex and existing textile manufacturing units. The Pakistani Company has agreed for manufacturing of denim garments at the complex besides supplying the denim fabrics to the Tajik company at the market rates of for manufacturing of denim garment for exports.
The administration of Tajikistan Textile Complex will provide official registration of joint activities on the basis of existing legislation of the foreign country. Under the second phase of the project, Tajik company would provide land and building with all facilities of utility services and infrastructure to operate and provide accommodation for the workers and official preparation and other official documentation. The foreign company would manufacture Denim garments and other related products in the complex which would be leased for 25 years at the rent of $20,000 per month. The MoU was signed between Mirza Ikhtiar Baig, chairman Biag Group, and Supervisiory Board Chairman Oykin Anvar Bozorovich.
According to one of the MoU, a plant was set up for plastic baby bottles and allied products at Dushanbe. The principal office of the business shall be in Republic of Tajikistan. Approximately an amount of $500,000 will be required to run the business and both the parties shall bear due share on the basis of 50 percent each.
The land for setting of the plant shall be acquired by the government on the basis of lease for a period permissible under the law and all such arrangement for the acquisition of land. According to another MoU a plant was also to set up for disposable syringes and allied products at Dushanbe. The principal office of the business shall be in Republic of Tajikistan. Approximately an amount of $500,000 will be required to run the business and both the parties shall bear due share on the basis of 50 percent each.
