Karachi, In a recent development to bolster economic relations, the Ambassador of Azerbaijan to Pakistan, Khazar Farhadov, emphasized the need for enhanced private sector involvement in the Azerbaijan-Pakistan Intergovernmental Joint Commissionâ€
s Joint Working Groups. This initiative aims to deepen trade and economic cooperation by including private entities in discussions on sectors ranging from trade to energy and tourism.
According to Karachi Chamber of Commerce and Industry, during his visit to the Karachi Chamber, Ambassador Farhadov detailed the efforts to improve logistical and economic connections between the two nations. This includes the establishment of direct flights from Baku to Karachi, which are expected to significantly boost trade volumes and facilitate easier travel for business and private purposes. The Ambassador highlighted recent achievements such as the exemption of Pakistani rice from Azerbaijani import customs duties until 2027, a move that underscores the growing economic collaboration.
The discussion also covered the substantial increase in trade volume, which saw a significant rise over the past two years, largely attributed to the strategic energy partnerships, particularly in LNG. The introduction of direct flight routes from Azerbaijan to multiple Pakistani cities further cements this relationship, enhancing connectivity and encouraging mutual economic ventures.
The meeting attended by key figures from both countries, including President of the KCCI, Iftikhar Ahmed Sheikh, and other dignitaries, also touched on the broader implications of these partnerships for sectors such as agriculture, IT, and energy. Both sides acknowledged the historical and cultural ties that have laid a strong foundation for these expanding economic relations.
In his remarks, President Sheikh outlined the potential areas for further cooperation, suggesting that both countries capitalize on their agricultural and energy resources to address challenges like Pakistanâ€s energy crisis and to promote sustainable economic growth. He also invited Azerbaijani companies to explore investment opportunities in Pakistanâ€s Special Economic Zones under the China-Pakistan Economic Corridor (CPEC).
This meeting not only reaffirmed the strong bilateral ties but also set a forward-looking agenda for economic and strategic cooperation that could lead to substantial mutual benefits for both Azerbaijan and Pakistan.
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