BAKU, Azerbaijan, September 16. Azerbaijani-Pakistani business forum has been held in Baku, Trend reports.
The speakers included Deputy Economy Minister Samad Bashirli, Federal Minister of Commerce of Pakistan Jawad Paul, and Pakistan's Ambassador to Azerbaijan Qasim Mohiuddin.
Bashirli said that the possibility of establishing an Azerbaijani Trade House and a Joint Chamber of Commerce and Industry in Pakistan is being explored.
He pointed out that the trade turnover between Azerbaijan and Pakistan hit the $27 million mark in 2023, with most of it being imports from Pakistan. However, there’s a goldmine of potential waiting to be tapped for further developing mutual trade.
The non-oil industry, he claims, has enormous untapped potential, especially in the travel, pharmaceutical, and transportation sectors.
He added that Azerbaijan and Pakistan have strong, multifaceted ties based on deep friendship, brotherhood, and alliance.
"These close ties have elevated our cooperation to the level of strategic partnership. The Joint Declaration on Strategic Partnership between Azerbaijan and Pakistan, signed in 2015, has significantly contributed to the long-term development of relations between our countries," the deputy minister also pointed out.
Besides, according to him, Azerbaijan is considering investment opportunities in Pakistan's oil and gas sector.
Bashirli noted a potential for joint efforts between Azerbaijan and Pakistan in both the oil and non-oil sectors, as well as in space industry projects that demonstrate high investment viability.
He also emphasized the significant prospects for cooperation in areas such as transportation, hydrometeorology, and climate change mitigation.
"We are also exploring investment opportunities in Pakistan's oil and gas sector and the development of precious metal resources. The energy sector remains a focal point, and both countries are considering potential pathways for further partnership," the official added.
The business forum proceeded with B2B discussions.
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