Pakistan, Azerbaijan Commit to Enhanced Bilateral Trade, Economic Cooperation

Islamabad, July 2, 2024:

Deputy Foreign Minister of Azerbaijan, H.E. Mr. Samir Sharifov, called on Federal Minister for Commerce Jam Kamal Khan at his office.

The high-profile meeting was attended by H.E. Mr. Khazar Farhadov, Ambassador of Azerbaijan, Federal Secretary for Commerce Ahsan Ali Mangi, and other senior officials.

Minister Jam Kamal Khan highlighted the Pakistani government’s dedication to forging robust economic relations with other nations. He emphasized that, over the past three months, the government has made significant strides in enhancing diplomatic and economic ties, achieving notable developments.

“Pakistan attaches great importance to its relationship with Azerbaijan. We must continue to advance our cooperation in various sectors including tourism, transport, energy security, and defense, though this requires additional efforts,” said Minister Jam.

He also urged the need for an early conclusion of Preferential Trade Agreement and Bilateral Transit Trade Agreement.

Deputy Minister Sharifov conveyed Azerbaijan’s readiness for closer cooperation with Pakistan across all fields of mutual interest.

He apprised that the President of Azerbaijan plans to visit Pakistan soon, during which several MoUs are expected to be signed.

Minister Jam also proposed to hold B2B meetings which may either in Pakistan or in Azerbhaijan.

Both sides agreed on the necessity of a long-term and practical mechanism to enhance monitor bilateral trade and cooperation to suggest ways forward to achieve the desired aim.

Sharifov highlighted the ease of travel between the two countries, noting that Azerbaijan received 55,000 Pakistani visitors last year due to its favorable visa policy.

He also mentioned that Azerbaijan is the first Central Asian country to initiate direct flights to Pakistan, facilitating greater connectivity.

Minister Khan invited Azerbaijani businesses to invest in Pakistan, citing the country’s cost-effective labor market as a significant advantage.

He pointed out Saudi Arabia and China investments in Pakistan encouraging Azerbaijani investors to seize the opportunities available in Pakistan.

The meeting concluded with both sides expressing a strong commitment to deepening economic and diplomatic relations, setting the stage for a new era of cooperation between Pakistan and Azerbaijan.