BAKU: Pakistan is currently studying the possibilities of using the resources of Azerbaijan’s telecommunications satellite Azerspace-1, told Azerbaijani Ambassador to Pakistan Ali Alizade told a foreign media outlet.

"This issue was previously considered in 2016 during a meeting of the intergovernmental commission on trade and economic cooperation. Azerbaijan offered Pakistan to use the resources of the national telecommunications satellite," the diplomat said.

He added that the issue was currently being considered by relevant bodies of Pakistan and there is a plan to establish cooperation in this sphere.

Alizade also said that Pakistani businessmen were considering investment in Azerbaijan’s technology parks and industrial districts.

“A number of technology parks and industrial districts have already been created in Azerbaijan. They offer favourable conditions for business, tax exemption, simplified procedures for entrepreneurial activity and attracting foreign investment, which is also interesting for Pakistani business circles,” he added.

Currently, work is underway in Azerbaijan to create plants and enterprises in the Sumgait Chemical Industrial Park, Balakhani, Garadagh, Mingachevir and Pirallahi industrial parks, Mingachevir High Tech Park, Sumgait Technologies Park, as well as in Neftchala and Masalli industrial districts.

Residents of Azerbaijan’s industrial parks are exempted from real estate, land, profit taxes, as well as value-added tax on import of equipment for a period of seven years.