Media: Pakistan prepares $2-3 billion investment portfolio for Azerbaijan

ECONOMICS  04 July 2024 - 18:25

Pakistan has prepared an investment portfolio totalling between $2 to $3 billion for presentation to Azerbaijan.

Federal Commerce Minister Jam Kamal Khan underscored the significance of Pakistan's relations with Azerbaijan during a meeting with a delegation led by Deputy Foreign Minister Samir Sharifov in Islamabad, Caliber.Az reports via local media.

Khan highlighted the importance of enhancing cooperation across various sectors such as tourism, transportation, energy security, and defence, emphasizing the need for efforts in these areas to strengthen bilateral ties.

He also stressed the urgency of finalizing agreements like the Preferential Trade Agreement (PTA) and Bilateral Transit Trade Agreement (BTA), proposing business-to-business (B2B) meetings in either Pakistan or Azerbaijan. Both sides agreed on the necessity of establishing a long-term and effective mechanism to monitor bilateral trade and cooperation and explore future prospects.

The Commerce Minister extended an invitation for Azerbaijani companies to invest in Pakistan, citing the country's efficient labour market as a significant advantage. He pointed to existing Saudi and Chinese investments as encouraging examples for Azerbaijani investors.

Deputy Foreign Minister Sharifov expressed Azerbaijan's readiness to deepen cooperation with Pakistan across all mutually beneficial areas. He highlighted recent advancements such as simplified travel procedures, noting Azerbaijan's favorable visa policies that attracted 55,000 Pakistani tourists last year.

Sharifov also highlighted the positive impact of direct flights between Azerbaijan and Pakistan on enhancing transportation links.

Several agreements between the two countries are anticipated to be signed this month, with sources indicating that the Prime Minister has prioritized the resolution of procedural formalities and pending issues without delay.

Caliber.Az