Pakistan, Azerbaijan agree to enhance bilateral trade, investment
Business
Dr Musadik Malik gave a detailed presentation on the investment opportunities.
ISLAMABAD (APP) - On the side lines of the visit of the President of Azerbaijan to Pakistan, a high-level official delegation from Azerbaijan held meeting with Federal Minister for Petroleum and Water Resources Dr Musadik Malik to enhance bilateral trade and investment.
The Azerbaijan side was led by Mr Parviz Shahbazov, Minister for Energy accompanied by Mr Sahib Mammadov, Deputy Minister for Economy, Mr Yusif Abdullayev, Executive Director of Export and Investment Promotion Agency (AZPROMO), Mr Ulvi Mansurov, Executive Director of Azerbaijan Investment Company, Mr Elchin Mammadov, Advisor to the Minister of Digital Development and Transport, Mr. Togral Kocharli, Head of Global Business Development of SOCAR Trading and Mr Emin Guliyev, Senior Specialist of Investment Promotion Department AZPROMO.
The Pakistani side was led by Dr Musadik Malik, Federal Minister for Petroleum and Water Resources, accompanied by Awais Leghari, Federal Minister for Power, Abdul Aleem Khan, Federal Minister for Communication and Privatization, Jam Kamal Khan, Federal Minister for Commerce, Lt. General Sarfaraz Ahmed, National Coordinator (SIFC) and federal secretaries, said a news release issued here on Friday
Dr Musadik Malik welcomed the delegation and recalled the historic ties between the two countries based on common faith and deep-rooted cultural affinities, which are evident when one moves across Baku. Multan Karvansarayi is a testament to the ties dating back to centuries.
The Pakistani delegation presented opportunities to enhance trade and investment relations between the two countries.
Dr Musadik Malik gave a detailed presentation on the investment opportunities. He emphasized that economic exchange needed to be strengthened in order to broaden our relationship.
He said that Pakistan aimed for diversified markets in the region and partnering economic corridors stretching from Central Asia to Europe. He highlighted the vast investment opportunities in mines and minerals, particularly gold and copper.
During the meeting, cooperation in oil and gas sector was also discussed. Pakistan was a huge demand centre for energy and both countries could also together leverage the IT potential, especially artificial intelligence, machine learning, training the human resource, Dr. Musadik said.
On the occasion, Federal Minister for Power Sardar Awais Khan Leghari underscored the avenues in power sector where Azerbaijan’s investment could bear high returns.
Federal Minister for Commerce Jam Kamal expressed his appreciation on the agreements signed during the visit of the President of Azerbaijan to Pakistan from 11 to 12 July 2024. He underlined the importance of arranging extensive briefings to the private sectors of the two sides at an early date.
The Azerbaijan’s side expressed it keen desire to begin working on the proposals and, in this regard, resolved to strengthen the working groups between both countries.
Mr. Parviz Shahbazov thanked the Pakistan side for the detailed briefing on the investment opportunities in Pakistan. He underlined the importance of holding working groups meetings at an early date.
The Pakistani side reiterated its full commitment and support to the Azerbaijan’s investment in Pakistan and fast track progress on the matter.
Both sides agreed to appoint focal persons, short list projects and present them to the leadership at an early date for their approval.
