Trade turnover between Azerbaijan and Pakistan can be increased to $25-30 million, President of the Pakistan-Azerbaijan Economic Cooperation Chamber (PAKAZCHAM) Khurram Javaid Bhatti told Report.
According to him, the volume of trade between the two countries amounted to $11,729,000 in 2021, which is 11.6% less than in 2020: “For 10 months of this year, this figure has already amounted to $19,045,000. But we can still increase it, as countries have the potential for this.”
Bhatti said that a visit of business missions to Azerbaijan will be organized to realize this potential: "Representatives of 10 rice producing companies will come to Azerbaijan. The Pakistan Rice Exporters Association also shows great interest in this trip. They are considering the possibility of exporting both to Azerbaijan and to the countries of the region. Within the framework of the visit, we plan to organize B2B meetings in Azerbaijan."
He noted that a business mission of representatives of pharmaceutical companies is also planning a visit to Azerbaijan: "Our goal is not only to export Pakistani pharmaceutical products to Azerbaijan, but also to create joint ventures here. This can be beneficial for both parties, and with this it will be possible to send products from Azerbaijan to the markets of the regional countries along supplying only the local market."
Bhatti said that they also want to organize a meeting of textile companies in Azerbaijan: "We want Pakistani men's, women's and children's clothing manufacturers to be represented in the Azerbaijani market."
He added that a business mission from Azerbaijan is expected to visit Pakistan: "This trip can take place in February or March."