BAKU, Azerbaijan, September 22. Azerbaijan and Pakistan can cooperate in the field of reinsurance, Ambassador Extraordinary and Plenipotentiary of Pakistan to Azerbaijan Bilal Hayee said at a meeting with the Executive Director of the Azerbaijan Insurance Association (AIA), Elmar Mirsalayev, Trend reports.
According to the Azerbaijan Insurance Association, at the meeting, Elmar Mirsalayev informed the ambassador about the work done and achievements in the development of the insurance sector in the country.
In addition, the executive director of the AIA spoke about the Turkic World Insurance Union, established with the participation of insurers from five Turkic-speaking countries, and also spoke about its importance in the development of insurance relations in the region and the formation of a regional insurance center.
Bilal Hayee highly appreciated the reforms implemented in the insurance sector of Azerbaijan and, within the framework of mutual cooperation, offered to use the experience of the new international financial reporting standard applied by Pakistan in the insurance sector. The ambassador also expressed hope for the formation of relations between the two countries in the field of reinsurance.
In general, as a result of the meeting, a preliminary agreement was reached between the Azerbaijan Insurance Association and the Insurance Association of Pakistan on the establishment of cooperation relations.