Azerbaijan, Pakistan mull trade, investment ties

7 May 2021 15:54 (UTC+04:00)

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By Ayya Lmahamad

Azerbaijan’s Center for Analysis of Economic Reforms and Communication and Pakistani Ambassador have discussed trade and investment relations between the two countries, the center’s press service reported on May 6.

During the meeting, the center’s Executive Director Vusal Gasimli briefed Ambassador Bilal Hayee on the reforms carried out in the country, the application of strategic management, and monitoring and evaluating activities carried out by the Center.

He also provided information on the Center’s projects like Azexport.az, EnterpriseAzerbaijan.com, Digital Trade Hub, Azranking.az, and Export Support Center “Single Window”.

Gasimli stressed that as a result of the carried reforms, Azerbaijan retained its position as a reformer country with high results in the World Bank’s Doing Business report.

In turn, the ambassador expressed satisfaction with the level of the relations and growing strategic cooperation between the two brotherly countries. He stressed the importance of expanding economic ties, especially trade relations.

He noted that further expansion of trade and investment cooperation between Azerbaijan and Pakistan will make a positive contribution to the economic development of the two countries.

Additionally, the parties discussed establishing cooperation between the Center and relevant Pakistani institutions to conduct joint research.

It should be noted that Azerbaijan is among the top ten most reformer countries in the world, according to the World Bank Doing Business report. As a result of an independent study conducted by the World Bank Internal Audit, Azerbaijan’s position in the Doing Business 2020 report improved by 6 steps, thus the country secured its place among the top ten reformer countries in the world.

The trade turnover between Azerbaijan and Pakistan amounted to $13.2 million in 2020, with export amounting to $1.6 million and import to $11.6 million. In addition, the trade turnover between the two countries amounted to $3.1 million in the first quarter of 2021.

Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad