Islamabad and Tajikistan Chambers of Commerce and Industry on Saturday signed a Memorandum of Understanding to promote mutually beneficial cooperation between private sectors of both countries for enhancing bilateral trade, investment, joint ventures and technology transfer in a number of fields.
Islamabad Chamber of Commerce and Industry (ICCI) President Atif Ikram Sheikh and Tajikistan Chamber of Commerce and Industry (TPP) Chairman Sharif Said signed the MoU at Islamabad Chamber of Commerce and Industry.
Speaking on the occasion, Sharif Said said that Tajikistan had initiated 471 investment projects in various sectors including agro-industry, pharmaceutical, food and processing industry, building materials, transport and communication, chemical and power sectors and stressed that Pakistani investors should explore investment opportunities in his country. He said that Pakistan’s small industries especially had a great potential to flourish in Tajikistan.
He said Tajikistan was very rich in energy resources and was producing the cheapest electricity in the world while only 5% of its electricity was being exported. He said that Pakistan should enhance cooperation with Tajikistan in the energy sector to overcome its energy problems. He said that Tajikistan was holding an exhibition in April 2016 and invited ICCI delegation to participate in order to explore business opportunities. He was hopeful that MoU of cooperation between capital chambers of both countries would play a positive role in increasing business linkages and improving bilateral trade between Pakistan and Tajikistan.
Islamabad Chamber of Commerce and Industry President Atif Ikram Sheikh said that Pakistan was focusing on Central Asia for trade and exports and added that Tajikistan’s cooperation was very important to realise these objectives. He said that China-Pakistan Economic Corridor (CPEC) would create a lot of investment opportunities and stressed that Tajik investors should come to Pakistan and join hands with Pakistani and Chinese investors to reap benefits of the $46 billion CPEC project.
He said a direct flight from Pakistan to Tajikistan took just one and a half hours and stressed that both countries should try to establish direct air links that would help in promoting bilateral trade. He said Pakistan and Tajikistan could also be connected by road link from Chitral as it was a distance of just 15 km between the two countries. He said that both sides should make joint efforts to establish direct road links which could give a big boost to two-way trade and investment.