Pakistan to present investment portfolio worth $2-3B to Azerbaijan

Pakistan has developed an investment portfolio of $2-3 billion to present to Azerbaijan, Report informs referring to Pakistani media.

“Pakistan attaches great importance to its relationship with Azerbaijan. We must continue to advance our cooperation in various sectors including tourism, transport, energy security, and defence, though this requires additional efforts,” Federal Minister for Commerce Jam Kamal Khan said at a meeting with an Islamabad-based delegation led by Deputy Foreign Minister Samir Sharifov.

He also emphasized the need for an early conclusion of Preferential Trade Agreement (PTA) and Bilateral Transit Trade Agreement (BTTA).

Deputy Minister Sharifov conveyed Azerbaijan’s readiness for closer cooperation with Pakistan across all fields of mutual interest.

Minister Jam also proposed to hold B2B meetings which may either take place in Pakistan or in Azerbaijan. Both sides agreed on the necessity of a long-term and practical mechanism to enhance monitor bilateral trade and cooperation to suggest ways forward to achieve the desired aim.

Sharifov highlighted the ease of travel between the two countries, noting that Azerbaijan received 55,000 Pakistani visitors last year due to its favorable visa policy.

He also mentioned that Azerbaijan is the first Central Asian country to initiate direct flights to Pakistan, facilitating greater connectivity.

Minister Khan invited Azerbaijani businesses to invest in Pakistan, citing the country’s cost-effective labor market as a significant advantage.

He pointed out Saudi Arabia and China investments in Pakistan encouraging Azerbaijani investors to seize the opportunities available in Pakistan.

According to sources, prime minister himself has instructed that all codal formalities and pending issues should be resolved at the earliest.