Pakistan

PM Shehbaz calls for enhanced trade partnership with Azerbaijan

Says Pakistan geographically offers a natural economic corridor to the sea for Central Asian states

APP June 27, 2024

Prime Minister Shehbaz Sharif chairing a high-level meeting on enhancing relations with Central Asian states, particularly Azerbaijan on Thursday, June 27, 2024. PHOTO: PID

ISLAMABAD:

Prime Minister Shehbaz Sharif on Thursday instructed the formulation of a comprehensive strategy to strengthen cooperation and trade partnerships with Azerbaijan in the fields of economy and investment.

Chairing a high-level meeting on enhancing relations with Central Asian states, particularly Azerbaijan, the prime minister stated, “Pakistan geographically offers a natural economic corridor to the sea for Central Asian states.”

He highlighted the enduring fraternal relations between Pakistan and Azerbaijan, which have spanned decades.

He believed that there were significant opportunities for trade and investment between Azerbaijan and Pakistan.

“Foreign investment in the country is on the rise due to the government’s business and investment-friendly policies,” the prime minister mentioned.

Also read: Pakistan, Azerbaijan vow to boost bilateral trade, connectivity

The prime minister directed the development of a comprehensive action plan to boost trade efficiency and expand current trade between the two countries.

During the meeting, the prime minister was briefed on initiatives aimed at enhancing trade volume, capacity, and trade and investment between Pakistan and Azerbaijan.

It was highlighted during the briefing that there was substantial potential for energy cooperation with Azerbaijan, and discussions were ongoing for a preferential trade agreement between both countries.

Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar, along with Minister for Planning and Development & Special Initiatives Ahsan Iqbal, Federal Minister for Industries and Production Rana Tanveer Hussain, Federal Minister for Privatisation and Investment Abdul Aleem Khan, Federal Minister for Power Sardar Owais Khan Leghari, Federal Minister for Petroleum Dr Musadik Malik, Federal Minister for Commerce Jam Kamal Khan, Special Assistant to PM Tariq Fatemi, and other senior officials attended the meeting.