Azerbaijan floats idea of three-nation bloc

Envoy asks investors to explore avenues of JVs, investment

Our Correspondent November 13, 2022


Azerbaijan Ambassador Khazar Farhadov has said that Pakistan, Azerbaijan and Turkey together have a good potential to establish an economic bloc to achieve better outcomes for their respective economies.

Talking to the business community during his visit to Islamabad Chamber of Commerce and Industry (ICCI), he emphasised that Azerbaijan was keen to enhance bilateral trade with Pakistan, which would be very beneficial for both countries. “Azerbaijan and Turkey collaborate in a variety of economic fields and their bilateral trade is in billions. Therefore, Azerbaijan wants to develop similar trade ties with Pakistan that could complement each other’s economy,” the envoy said.

Azerbaijan’s economy has been on a steady growth path and it has positioned itself as a strategic transport hub between Europe and Asia. “Therefore, close cooperation with Pakistan will open up new avenues for Islamabad to promote trade ties with Central Asia,” said Farhadov.

Citing that Azerbaijan had set up many industrial zones, the ambassador asked Pakistani investors to explore opportunities of joint ventures and investment.

Published in The Express Tribune, November 13th, 2022.

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