Islamabad, 22 April 2024 (TDI): Trade between Azerbaijan and Pakistan was focused on the recent meeting of Ambassador Khazar Farhadov and KCCI officials on Friday, in Karachi.
The Azerbaijan envoy on Friday underscored the importance of bolstering economic and business relations between the two nations by streamlining processes for the private sector.
Pakistan and Azerbaijan have been actively working towards finalizing a preferential trade agreement (PTA) and a separate transit agreement.
“The private sector should be engaged in the joint working groups, the establishment of which have been agreed between the parties at the seventh session of the Azerbaijan-Pakistan Intergovernmental Joint Commission which was held on December 2021, in Baku,” Khazar Farhadov, the ambassador of the Republic of Azerbaijan told businessmen at a meeting the Karachi Chamber of Commerce & Industry (KCCI).
Ambassador Khazar Farhadov stressed the robust political and defense ties between Azerbaijan and Pakistan, along with close historical connections.
Moreover, He underscored the necessity to enhance economic and business relations by providing more facilitation to the private sector.
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Trade between Azerbaijan and Pakistan along with sectors like agriculture, banking, energy, tourism, information and communication technologies, transport, youth, health, military-technical, and labor fields are to be focused on, he added.
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President KCCI Iftikhar Ahmed Sheikh, Vice President Tanveer Barry, Former Presidents Majyd Aziz and Junaid Makda along with KCCI Managing Committee Members attended the meeting.
Ambassador Farhadov said that work was currently underway on a Transit Trade Agreement and Preferential Trade Agreement between the two countries, which would lead to improved trade ties.
Ambassador Khazar opined that Azerbaijan’s companies can explore joint ventures and investments in SEZs under the CPEC, which can further strengthen our economic relations.
The investors from Azerbaijan should capitalize on the opportunities provided by SIFC and pursue joint ventures in potential sectors such as agriculture & livestock, energy, IT & telecom, energy, industry, trade & tourism.
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