Pakistan and Azerbaijan can benefit from huge trade potential

ISLAMABAD: The Chairman of the Pakistan-Azerbaijani Chamber of Economic Cooperation, Khurram Bhatti, said the two countries have enormous potential to further strengthen bilateral cooperation, especially in the fields of agriculture, industry, information technology and tourism, a statement received from Baku said on Wednesday.

Pakistan’s Ambassador to Azerbaijan Bilal Hayee joined senior Azerbaijani government officials and business leaders on Wednesday for the inauguration of the Pakistan-Azerbaijani Economic Cooperation Chamber at the Hilton Baku hotel.

Bhatti shared the full profile of the existing economic ties between Pakistan and Azerbaijan and said the chamber will provide a permanent platform for business entities in Pakistan and Azerbaijan for mutually beneficial business interactions and to expand the bilateral regime of trade and investment.

Elnur Aliyev, Deputy Minister of Economy; Elnur Mammadov, Deputy Minister of Foreign Affairs, as well as representative of the Azerbaijani Foundation for the Promotion of Exports and Investments (AZPROMO) also made remarks at the event and reiterated the commitment of Azerbaijani leaders to deepen the partnership. economic with Pakistan.

They praised Pakistan’s continued support for Azerbaijan during its campaign to liberate the occupied territories. Inviting Pakistani investors and businessmen to come to Azerbaijan, Azerbaijani officials expressed interest in having a preferential trade agreement with Pakistan to boost bilateral trade.

Ambassador Hayee said the motivation behind establishing this chamber came from the leadership’s vision and mutual guidance to forge a strong economic partnership between the two countries. He expressed the hope that the chamber would play an active role in bringing the business community of the two countries closer together for the strengthening of economic relations.

He also highlighted key areas for potential engagement, including energy, agricultural products, surgical instruments and pharmaceuticals. Tourism and IT sectors also offer immense opportunities for both sides, he said, and encouraged business entities in Pakistan and Azerbaijan to become members of Pakistan Economic Cooperation Chamber- Azerbaijan to make it an efficient and solid organization.

The chamber is a non-profit legal entity registered with the Ministry of Justice of Azerbaijan. The founders of the chamber included prominent Pakistani and Azerbaijani nationals. The chamber will be based in Baku with a permanent office and staff. After the inauguration, the composition of the chamber would be open to businesses and businesses from both countries.

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