ISLAMABAD: Azerbaijan President Ilham Aliyev is likely to visit Pakistan from July 11 to 12, 2024 during which a number of pacts likely to be signed, as Pakistan has devised an investment portfolio of US 2-3 billion dollars for pitching to Azerbaijan, official sources told Business Recorder.
Prior to president’s visit, a delegation led by Samir Sharifov, Deputy Foreign Minister has arrived in Islamabad and will stay till July 4 (tomorrow).
Deputy Foreign Minister of Azerbaijan, Samir Sharifov is holding meetings with different ministers including Energy (Power and Petroleum) ministers and called on Federal Minister for Commerce Jam Kamal Khan.
Minister Jam Kamal Khan highlighted the Pakistani government’s dedication to forging robust economic relations with other nations. He emphasized that, over the past three months, the government has made significant strides in enhancing diplomatic and economic ties, achieving notable developments.
“Pakistan attaches great importance to its relationship with Azerbaijan. We must continue to advance our cooperation in various sectors including tourism, transport, energy security, and defence, though this requires additional efforts,” said Jam.
He also emphasized the need for an early conclusion of Preferential Trade Agreement (PTA) and Bilateral Transit Trade Agreement (BTTA).
Deputy Minister Sharifov conveyed Azerbaijan’s readiness for closer cooperation with Pakistan across all fields of mutual interest.
Minister Jam also proposed to hold B2B meetings which may either take place in Pakistan or in Azerbaijan. Both sides agreed on the necessity of a long-term and practical mechanism to enhance monitor bilateral trade and cooperation to suggest ways forward to achieve the desired aim.
Sharifov highlighted the ease of travel between the two countries, noting that Azerbaijan received 55,000 Pakistani visitors last year due to its favorable visa policy.
He also mentioned that Azerbaijan is the first Central Asian country to initiate direct flights to Pakistan, facilitating greater connectivity.
Minister Khan invited Azerbaijani businesses to invest in Pakistan, citing the country’s cost-effective labor market as a significant advantage.
He pointed out Saudi Arabia and China investments in Pakistan encouraging Azerbaijani investors to seize the opportunities available in Pakistan.
According to sources, Prime Minister himself has instructed that all codal formalities and pending issues should be resolved at the earliest.
Ministry of Foreign Affairs has nominated Tahir Nabi, Assistant Director (CARs-II) as focal person for the visit.
The sources said that Minister for Planning, Development and Special Initiatives, Ahsan Iqbal chaired a meeting of relevant ministries, including Commerce, Industries, Information Technology, Education, National
Food Security and Research, Board of Investment and others, to devise an investment portfolio of $ 2-3 billion for pitching to Azerbaijan.
Copyright Business Recorder, 2024