Both Pakistan and Azerbaijan, have similar historical past and religious affinity but bilateral trade is far below our potential, Pakistan’s ambassador to Azerbaijan, Sajid Khan Mohmand told News.az.
“To improve economic relations, a special working group has been formed between the Ministry of Economy of Azerbaijan and the Ministry of Commerce of Pakistan on developing bilateral investment cooperation. As we know, Azerbaijan is one of the largest producers of oil and energy related products, while Pakistan is one of the largest consumer markets for these products. The two countries have signed a cooperation agreement in which Azerbaijan will support Pakistan’s energy security needs. There is also ongoing dialogue between Pakistan and Azerbaijan regarding LNG imports from Azerbaijan. “
He mentioned that there was great potential and the two countries could conduct joint ventures mainly in sectors including sports goods, the leather industry, pharmaceuticals, energy production of light agricultural equipment, and adding value to agricultural products.
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