Pakistani textile brands seek Azerbaijani partners to expand global footprint

Pakistani companies specializing in the textile sector are set to visit Baku to explore investment opportunities in Azerbaijan, according to Khurram Javed Bhatti, President of the Pakistan-Azerbaijan Chamber of Economic Cooperation (PAKAZCHAM).

Bhatti revealed that a business event will be held in Baku, bringing together Pakistani entrepreneurs and their Azerbaijani counterparts, Caliber.Az reports via local media.

“A renowned Pakistani men’s clothing brand is keen to enter the Azerbaijani market. We are actively seeking a local partner for them and are considering a potential franchising agreement,” Bhatti noted.

Highlighting the potential for expanding ties in the textile sector, Bhatti also emphasized the significance of the Preferential Trade Agreement (PTA) recently signed between the governments of Azerbaijan and Pakistan.

“This agreement is aimed at enhancing economic cooperation between the two nations. Mutual concessions will apply to the export of around ten product categories. Azerbaijani exports include hazelnuts, agricultural produce, plant extracts, and tobacco, while Pakistani exports comprise rice, potatoes, textiles, and medical equipment. This strategic alignment and tariff reductions will strengthen trade relations to the benefit of both sides,” he added.

Thus, from January to November 2024, the trade turnover between Azerbaijan and Pakistan amounted to $20.007 million, reflecting a 0.9% increase compared to the same period in 2023. However, Azerbaijan’s exports to Pakistan dropped significantly to $197,000, a 7.5-fold decrease, while imports from Pakistan rose by 8% to $19.811 million.

Notably, approximately 35% of Azerbaijan’s imports from Pakistan consist of textile products. During the reported period, the total value of textile imports from Pakistan reached $6.7 million.

By Aghakazim Guliyev