Pakistan, Azerbaijan Forge $10 Million Trade Partnership
— November 17, 2024
ISLAMABAD (AIA) The Pakistan Business Forum (PBF) has signed a Memorandum of Understanding (MoU) with Azerbaijan’s private sector to strengthen regional trade and investment ties. Amna Munawwar Awan, Senior Vice President of PBF and President of Matrix Global, signed the agreement with Babak Huseynli, Director for Central Asia and Azerbaijan at Digital Diplomacy, on Sunday.
The agreement focuses on promoting economic diplomacy and facilitating the export of premium food products from Sunridge Foods Pvt Ltd to Azerbaijan and the broader Central Asian region.
Under the MoU, Huseynli’s organisation will establish a state-of-the-art warehouse, a trade display centre, and an office in Azerbaijan, which will serve as a hub for showcasing Pakistani products, including Sunridge Foods’ renowned offerings. Meanwhile, Matrix Global’s Islamabad office will support regional connectivity and streamline trade operations.
At the signing ceremony, Awan emphasised the significance of this partnership, describing it as a transformative step in fostering bilateral trade and attracting investment. She projected the collaboration could exceed $10 million in trade volume, unlocking economic opportunities and deepening ties between Pakistan, Azerbaijan, and Central Asia.
“This MoU marks a milestone in expanding trade horizons and enhancing economic relations,” Awan said. “By connecting markets in Central Asia and Azerbaijan with Pakistan, we are laying the groundwork for long-term prosperity and regional growth.”
This agreement highlights Pakistan’s dedication to strengthening economic diplomacy and establishing itself as a pivotal player in regional trade. As global economies become increasingly interconnected, initiatives like this play a vital role in fostering mutual growth and creating new opportunities for all stakeholders.