Azerbaijan, Pakistan to sign preferential trade deal
Azerbaijan will sign a preferential trade agreement with Pakistan, Azernews reports, citing Azerbaijani Ambassador to Pakistan Khazar Farhadov, telling at a meeting in Sialkot Chamber of Commerce and Industry.
As the Pakistani media report, the Azerbaijani ambassador visited the Sialkot Chamber of Commerce and Industry (SCCI) to interact with the Business Community of Sialkot.
At the meeting, mutual business relations between Azerbaijan and Pakistan were discussed, where Abdul Ghafoor Malik, President of SCCI, noted that Pakistan was keen to untap the potential that exists on both sides and SCCI plans to a Trade Delegation of prominent product sectors of Sialkot to Azerbaijan, to have business-to-business interactions of Pakistani business community with Azerbaijani counterparts.
Meanwhile, Khazar Farhadov noted that Azerbaijan would be signing a Preferential Trade Agreement with Pakistan, which would help businessmen on both sides to increase economic relations.
He added that last year the trade volume of Pakistan and Azerbaijan increased three times, through joint efforts from both sides.
Notably, the Islamic Republic of Pakistan was one of the first countries to recognize the independence of the Republic of Azerbaijan on the 12th of December 1991. Diplomatic relations between the two countries were established on the 9th of June 1992. The trade turnover between the two countries amounted to $27m in 2022.
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