Page 14 - January-February-2021

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New e-commerce policy in

implementation phase

A brand new E-commerce policy will be incentives for the upcoming budget, and Investment
implemented soon states Abdul Razak Dawood, policy were discussed with the private and public
Advisor to Prime Minister on Trade and Investment. stakeholders.
In terms of technical support, that will be provided
by The Asian Development Bank (ADB). Moreover, “The new policy for equity investment abroad will
brand encourage & acquisition and value added attract foreign direct investment through the
export of high quality products will be done through establishment of holding companies by Pakistani
the new State Bank of Pakistan (SBP) policy. Earlier, fintech and startups; support exports by facilitating
revisions were done in chapter 20 of the Foreign exporters to establish subsidiaries or branch offices
Exchange Manual to offer support to startups, outside Pakistan; and, allow resident Pakistanis to
fintechs, and exports by the SBP.
acquire sweat equity, amongst other changes to the
National e-Commerce Council (NeCC) fourth Foreign Exchange (FX) regulations. It is encouraging
meeting was arranged at the commerce ministry. As to note that NeCC is emerging as an effective
per details, a number of issues relating to mechanism for public-private dialogue for effective
cross-border e-commerce, tax harmonization, policy implementation”, says Abdul Razak Dawood

Azerbaijan is keen to

promote bilateral trade

with Pakistan

Azerbaijan's Ambassador, Mr. Ali Alizada, at a meeting with the Islamabad Chamber of Commerce and
Industry (ICCI) business community, said, "Azerbaijan and Pakistan enjoyed excellent relations at the political
level, but trade and economic relations were not up to the mark. Therefore, there is a need to focus on
promoting trade relations that would yield highly beneficial results for both countries' economies. Covid-19 has
caused a slowdown in trade activity between the two countries, but after the coronavirus is over, bilateral trade
is expected to boost. Azerbaijan is interested in developing railway links and direct flights with Pakistan soon
after the end of Covid-19."
He highlighted that many good quality Pakistani products, including textile and leather products, home-made
crafts have a scope in Azerbaijan and it should increase imports of these products from Pakistan.

Recommending to the investors of Azerbaijan, the Ambassador said, "Pakistan is setting up many special
economic zones (SEZs) under CPEC that offered ten years' tax holiday. Therefore, Azerbaijan investors should
explore opportunities for joint ventures and investment in these SEZs that would help in further strengthening
bilateral business cooperation between the two countries."

January/February 2021