Baku, Islamabad discuss ways of expanding business ties

By Azernews

By Ayya Lmahamad

Azerbaijan and Pakistan have discussed extensive opportunities for cooperation between the business communities of the two countries, Azernews reports.

The discussion took place during the Azerbaijani-Pakistani business conference, organized jointly by Azerbaijan’s Export and Investment Promotion Foundation and Islamabad Chamber of Commerce and Industry held on June 7 in Baku.

Speaking at the conference, Azerbaijan’s Small and Medium-sized Business Development Agency Chairman Orkhan Mammadov briefed on his agency’s activities. He emphasized that the agency can provide support to foreign entrepreneurs wishing to establish a business in Azerbaijan, in interaction with the relevant agencies, finding local partners, and implementing joint projects between SMBs and other areas.

He noted that measures are being taken to establish cooperation between the agency and Pakistan's SMBs development organization. Mammadov added that the exchange of experience between businessmen and the implementation of joint initiatives is planned.

Azerbaijan’s Deputy Economy Minister Sahib Mammadov, Export and Investment Promotion Foundation’s Head Yusif Abdullayev, Pakistani Ambassador Bilal Hayee, Pakistan-Azerbaijan Economic Cooperation Chamber President Khurram Bhatti, Islamabad Chamber of Commerce and Industry President Muhammad Shakeel Munir also spoke at the conference.

The event was attended by officials from both countries and more than 50 businessmen.

Azerbaijan and Pakistan cooperate in various sectors of the economy. The relations between the two countries date back to 1991. Pakistan was among the first countries to recognize Azerbaijan's independence.

The trade turnover between the two countries totaled $11.7 million in 2021.