Baku, Pakistan: Azerbaijan-Pakistan business Forum has started here on Wednesday in Baku which is attended by several businessmen from Pakistan including the delegation of Rawalpindi Chamber of Commerce and Industry.
The Forum was inaugurated by Deputy Economy Minister of Azerbaijan Rufat Mammadov who during his address said that Pakistani business community has invested $4.2 million in Azerbaijani economy.
Deputy Economy Minister Rufat Mammadov informed the participant of Forum that a special working group was established between the Ministry of Economy of Azerbaijan and the Ministry of Trade of Pakistan on the development of bilateral investment cooperation.
It is pertinent to mention that Rawalpindi Chamber of Commerce and Industry (RCCI) is holding its 31st RCCI Â International Achievement Awards ceremony on July 5 (tomorrow) at Buta Palace Baku and the event is being held with the active participation and support of Ambassador of Pakistan in Azerbaijan Dr. Saeed Khan Mohmand.
On Wednesday, Azerbaijan Export and Investment Promotion Foundation (AZPROMO) and RCCI Pakistan signed a Memorandum of Understanding (MoU) to enhance bilateral trade between the two countries.
Pakistan and Azerbaijan enjoy excellent bilateral relations since Azerbaijan got independence and both the countries are give special attention to their relations in trade and military cooperation. Pakistan always supports Azerbaijan over its stance on Nagorno-Karabakh issue while Azerbaijan renders diplomatic support to Pakistan at international forums.
According to Pakistani businessmen, there are ample opportunities for joint ventures and business cooperation in several sectors including energy, pharmaceutical, surgical and sports goods, leather industry and production of heavy to light weight agriculture equipment and value addition in agriculture products.
According to available data, trade turnover between the countries amounted to $5.82 million in January-May 2018, which is 38.6 percent higher than the same period last year and Azerbaijani and Pakistani embassies are working to launch direct flights between Pakistan and Azerbaijan and flight operations can be launched soon.
