Baku, Islamabad eye prospects of industrial co-op

By Azernews

By Ayya Lmahamad

Azerbaijan's Economy Minister Mikayil Jabbarov and Pakistan's Defence Production Minister Zobaida Jalal have discussed the prospects of bilateral industrial cooperation.

Jabbarov made the relevant remarks on his official Twitter page on November 30.

The parties also focused on the participation of Pakistani companies in the restoration of Azerbaijan's liberated territories.

"During our meeting with Zobaida Jalal, the Minister of Defence Production of the Islamic Republic of Pakistan, we exchanged views on the development of industrial cooperation between our countries, as well as the participation of Pakistani companies in the restoration of our liberated territories," Jabbarov said.

Emphasizing the expansion of bilateral economic ties, Jabbarov noted that the signing of a preferential trade agreement between Azerbaijan and Pakistan, which is currently being discussed by the parties, will create additional opportunities for the development of trade and economic relations.

In turn, Zobaida Jalal noted the high level of bilateral political and economic relations and spoke about the business and investment climate in the country.

The parties discussed expanding cooperation in the field of transit and logistics and the implementation of joint projects.

The trade turnover between Azerbaijan and Pakistan amounted to $13.2 million in 2020, with export amounting to $1.6 million and imports to $11.6 million. In addition, the trade turnover between the two countries amounted to $8.9 million in the first 10 months of 2021.