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Pakistan to appoint coordinator for strengthening trade, joint projects with Azerbaijan

02 December 2024 14:01

Pakistan's Special Investment Facilitation Council (SIFC) has announced that Pakistan will appoint a coordinator to promote joint projects with Azerbaijan and strengthen trade partnerships.

The agreement was reached during a meeting between Azerbaijan's Ambassador to Pakistan Khazar Farhadov and Pakistan's Federal Minister for Privatisation, Investment Board and Communications, Abdul Aleem Khan, Caliber.Az reports, citing local media. 

The minister emphasised the potential for expanding bilateral cooperation across various sectors, including tourism.

"We need to transform our relationship into business and bilateral trade, and both sides are making positive progress toward achieving this goal," he stated. 

Khan invited companies from Azerbaijan to invest in Pakistan and launch commercial ventures under intergovernmental (G2G) and business-to-business (B2B) agreements and contracts. 

He also discussed in detail investment opportunities in Pakistan's infrastructure sector, including the construction of the M6 and M9 highways connecting Karachi to Sukkur and Sukkur to Hyderabad.

Khan emphasised that Pakistan offers significant potential across various sectors, which foreign investors can use effectively. In turn, Farhadov highlighted Azerbaijan's readiness to expand cooperation with Pakistan and actively explore investment opportunities and joint projects. 

"The meeting also covered trilateral cooperation involving Pakistan, Azerbaijan, and Türkiye. A decision was made to appoint a coordinator from the SIFC to maintain close coordination with Azerbaijan," the report stated.

Earlier, Abdul Aleem Khan announced that the Azerbaijan-Pakistan Intergovernmental Commission (IGC) meeting will take place on December 24-25, 2024.

Khan chaired a meeting on November 28 to assess progress on investment and privatisation issues, with Pakistan’s Ambassador to Azerbaijan, Qasim Mohiuddin, participating in the discussions.

The ambassador informed that Azerbaijan is keen to invest in Pakistan through a Government-to-Government (G2G) model and participate in the privatisation of state-owned enterprises. He added that Azerbaijan is considering investments in the construction of two six-lane motorways in Pakistan: the M6 (Sukkur-Hyderabad) and M9 (Karachi-Hyderabad).

By Naila Huseynova

Caliber.Az
Views: 103

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