HomeBusinessMoU Signed Between Dangara Free Economic Zone Administration and Global Business Alliance

MoU Signed Between Dangara Free Economic Zone Administration and Global Business Alliance

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Dushanbe, 7 July 2024 (TDI): Today, a Memorandum of Cooperation was signed between the Global Business Alliance of Pakistan and the State Institution of the Administration of Free Economic Zone “Dangara” in Tajikistan with the aim to foster forward the collaboration on economic and trade cooperation in diverse fields.

The memorandum was signed by Muhammad Asif Noor, Chairman of the Global Business Alliance, and Sobirzoda Jamshed, First Deputy Head of Administration of Free Economic Zone “Dangara.” This agreement aims to foster industrial production and strengthen economic ties between the two countries.

Business Ties

This memorandum outlines the mutual commitment to strengthening industrial production and fostering economic relations between the two nations. Both parties are guided by a shared desire to leverage their economic potential to improve living standards and fortify friendly relations. The cooperation will focus on enhancing investment, production, and commercial activities within the Free Economic Zone “Dangara”.

Key objectives of the memorandum include creating favorable conditions for business and industrial activities, implementing joint investment projects, and promoting the establishment of joint ventures.

The parties have agreed to assist in forming a conducive legal, industrial, and financial environment to support these initiatives, in accordance with the investment legislation of the Republic of Tajikistan.

Furthermore, both sides also intend to hold regular meetings and consultations at various administrative levels to develop and execute plans for joint activities. This cooperative effort aims to facilitate the exchange of information and development of bilateral relations.

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This partnership is further bolstered by the presence of a delegation from the Global Business Alliance, led by Muhammad Asif Noor, currently in Dushanbe. This visit coincides with the inauguration of a direct flight route from Islamabad to Dushanbe by Somon Air, enhancing connectivity between the two capitals.

The delegation includes representatives from various Pakistani companies exploring business opportunities in diverse sectors, aiming to tap into the potential of the Tajik market. This visit signifies the growing interest and commitment of Pakistani businesses in establishing a presence in Tajikistan and fostering mutual economic growth.

The memorandum is effective immediately and will remain in force until either party decides to terminate it by providing a six-month written notice. It is important to note that this memorandum does not constitute an international treaty and does not impose any legal or financial obligations on either party.

This collaboration marks a new chapter in the economic relations between Pakistan and Tajikistan, promising a future of enhanced cooperation and mutual prosperity.

Global Business Alliance (GBA) is an international business & trade cooperation networking platform for promoting bilateral and multilateral trade, business, and services globally, registered with the Government of Pakistan. GBA is offering networks of global diplomatic missions, governments, trade, and business enterprises for a competitive advantage to the forum members in availing of the opportunities for result-oriented growth, partnerships, and strategic alliances from different countries of the world.

“Dangara” is one of the developed economic zones in the Republic of Tajikistan, and its territory is 521.03 hectares. The most promising enterprise being built on the territory of this SEZ is a Chinese oil production and refining company. The main activity of the population is agriculture, including cotton growing, grain growing, horticulture, viticulture, beekeeping, and the and the cultivation of silkworm cocoons. The region also has industrial enterprises and facilities such as a leather processing plant, engraving, brick, cotton ginning plants, a bakery, a flour mill, and a garment factory.

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