Baku hosts event dedicated to Pakistan's business opportunities

An event dedicated to Pakistan's business opportunities and supported by the Islamabad Chamber of Commerce and Industry was held in Baku on June 7.

Speaking at the event, Pakistan's Ambassador to Azerbaijan Bilal Hayee said that this year marks the 30th anniversary of the establishment of diplomatic relations with brotherly Azerbaijan.

He noted that the relations between the two countries had developed over those years. According to the diplomat, the event held in Baku shows once again that Pakistani companies are ready for new partnerships to develop cooperation with Azerbaijan.

The ambassador stressed that this is the largest delegation to visit Baku after the coronavirus pandemic abated.

It is yet another indication of the importance the Pakistani state and private sector attach to Azerbaijan, Hayee said.

The ambassador added that his country is committed to providing a favorable environment for a mutually beneficial economic partnership with Azerbaijan.

President of the Pakistan-Azerbaijan Economic Cooperation Chamber Khurram Bhatti told Report that about 50 Pakistani companies took part in the event.

According to him, most of these companies came from Islamabad.

Khurram Bhati noted that the main goal of these companies is to start trade relations with Azerbaijan, adding that these companies want to establish a joint venture in Azerbaijan.

Companies coming to Azerbaijan cover various fields (construction, pharmaceuticals, textiles, food production), Bhatti said, stressing that Pakistani companies will hold bilateral meetings with their Azerbaijani partners as part of today's event.

According to Bhatti, they are interested in construction projects in the liberated areas, Baku and Ganja. In addition, joint ventures are expected to be established in the pharmaceutical sector.

Bhatti went on to say that a direct flight between Islamabad and Baku was launched on June 6.

There are already flights from Azerbaijan to three cities in Pakistan, he said, urging the tourism companies of both countries to be active in developing the tourism sector between the two countries.

The event was attended by Deputy Minister of Economy Sahib Mammadov, Chairman of the Small and Medium Business Development Agency under the Ministry of Economy Orkhan Mammadov, Head of the Export and Investment Promotion Agency Yusif Abdullayev, as well as representatives of the Pakistan Chamber of Commerce and Industry.

It should be noted that the number of Pakistani companies operating in Azerbaijan is 2,238. Pakistan has invested $4.2 million in Azerbaijan's non-oil sector.