Forum in Baku boosts Azerbaijan-Pakistan business ties

A forum aimed at developing business relations between Azerbaijan and Pakistan has begun in Baku, Azernews reports.

Deputy Minister of Economy Samad Bashirli, Federal Minister of Trade of the Islamic Republic of Pakistan Javad Pol, and Ambassador of Pakistan to Azerbaijan Kasim Mohiuddin will speak at the event. B2B discussions are expected to take place within the framework of the forum.

Azerbaijan's Deputy Minister of Economy Samad Bashirli stated that the possibility of establishing both the Azerbaijan Chamber of Commerce and a Joint Chamber of Commerce and Industry in Pakistan is being explored.

Bashirli noted that trade turnover between Azerbaijan and Pakistan reached 27 million US dollars in 2023, with most of it being imports from Pakistan. However, there is significant potential for further development of mutual trade.

He mentioned that there is great potential in the non-oil sector, particularly in transport, tourism, and pharmaceuticals.

"Possibilities for establishing the Azerbaijan Chamber of Commerce and the Joint Chamber of Commerce and Industry in Pakistan are also being explored," Bashirli said.

He added that there are strong and multifaceted relations between Azerbaijan and Pakistan based on deep friendship, brotherhood, and alliance.

"These close relations have elevated our cooperation to the level of strategic partnership. The 'Joint Declaration on Strategic Partnership of the Republic of Azerbaijan and the Islamic Republic of Pakistan,' signed in 2015, has significantly contributed to the long-term development of relations between our countries," the Deputy Minister emphasized.

On July 11 of this year, high-level negotiations were held in Pakistan during President Ilham Aliyev's visit to the country.

During this visit, 15 agreements covering economic, cultural, scientific, and technological fields were signed. As a result of this important visit, the legal framework governing our cooperation has been expanded with more than 50 signed documents.

Pakistani companies are playing an increasingly important role in Azerbaijan's economy. "As of August 8, 3,706 Pakistani companies were registered in Azerbaijan, with 3,304 currently operating. Economic cooperation between Azerbaijan and Pakistan will deepen through our ongoing efforts," Bashirli noted.