Pakistan, Azerbaijan to Strengthen Trade and Joint Ventures
— November 30, 2024
ISLAMABAD (AIA) Pakistan and Azerbaijan have agreed to strengthen joint ventures and trade partnerships, with practical steps expected to commence in the coming days.
This consensus was reached during a meeting between Azerbaijan’s ambassador to Pakistan, Khazar Farhadov, and Federal Minister for Privatisation, Board of Investment, and Communications Abdul Aleem Khan, according to a press release.
The meeting highlighted the positive outcomes of recent bilateral diplomatic activities, high-level delegation exchanges, and Pakistan’s active participation in the COP29 conference held in Baku.
Minister Khan welcomed the ambassador and emphasised expanding bilateral cooperation beyond traditional sectors, including tourism. “We must transform our mutual relations into business and trade partnerships, and both sides are making encouraging progress in this regard,” he stated.
The minister invited Azerbaijani companies to invest and establish businesses in Pakistan, citing current opportunities for both government-to-government (G2G) and business-to-business (B2B) collaborations. He specifically discussed investment prospects in the M6 and M9 Motorways, connecting Karachi to Sukkur and Sukkur to Hyderabad.
Khan also underscored the significant investment potential across various sectors in Pakistan, urging foreign investors to capitalise on these opportunities.
Ambassador Farhadov assured Azerbaijan’s full cooperation in enhancing investment and launching joint projects with Pakistan. He expressed commitment to fostering economic ties between the two nations.
The discussion also explored trilateral collaboration among Pakistan, Azerbaijan, and Türkiye. In line with the minister’s directives, it was decided to nominate a focal person from the Board of Investment to ensure effective communication with Azerbaijan’s government.