Azerbaijan, Pakistan mull bilateral cooperation

30 April 2021 13:31 (UTC+04:00)

By Ayya Lmahamad

Azerbaijan’s Deputy Economy Minister Rovshan Najaf has said that there is a great potential for further expansion of relations between Azerbaijan and Pakistan.

Najaf made the remarks during the Azerbaijani-Pakistani business forum held on April 29.

Highlighting Azerbaijan’s victory in the Second Karabakh War and liberation of its territories, the deputy minister stressed that Azerbaijan highly appreciates Pakistan’s unequivocal support for Azerbaijan’s position.

Moreover, Najaf underlined the importance of events with the participation of business circles in expanding trade and economic relations between the two countries.

It was noted that the measures taken to stimulate business initiatives will have a positive impact on the creation of new opportunities for cooperation and development of relations in the field of interregional partnership.

Highlighting opportunities for the development of Azerbaijani-Pakistani economic relations, he called on Pakistani businessmen to take advantage of the business environment created in Azerbaijan and invest in the various areas of the non-oil sector.

In turn, Pakistan’s Federal Secretary Commerce Muhammad Sualeh Ahmad Faruqui stressed the importance of economic and trade relations and mutual investment cooperation. In addition, he spoke about the projects and measures planned for the post- COVID-19 pandemic period.

Furthermore, Azerbaijani Ambassador to Pakistan Ali Alizadeh spoke about the development of relations between the two countries.

Noting Azerbaijan-Pakistan cooperation in trade, investment, and other areas, Pakistani Ambassador Bilal Hayee stated that Pakistani businessmen have implemented various successful projects in Azerbaijan.

Furthermore, AZPROMO’s acting head Yusif Abdullayev briefed the participants on the organization’s activities, expansion of relation with foreign partners, work done to increase investments in the non-oil sector, and projects implemented to expand trade relations with Pakistani businessmen.

Additionally, Azerbaijan’s Agency for Development of Small and Medium Businesses Chairman Orkhan Mammadov spoke about the measures taken to develop SMBs and stressed the possibilities of cooperation in this sphere with relevant structures and business entities of Pakistan.

During the meeting, presentations were made on the business and investment climate in Azerbaijan and Pakistan, as well as bilateral meetings were held between businessmen.

The forum was held with the support of Azerbaijan’s Economy Ministry, Azerbaijan’s Export and Investment Promotion Foundation (AZPROMO), and Pakistan’s Trade Development Organization.

The event was attended by officials from both sides, as well as more than 90 representatives of companies working in the pharmaceutical, textile, industrial, food, and other industries.

It should be noted that 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.

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

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