Global Rice News

A meeting between Azerbaijani President Ilham Aliyev and the caretaker Prime Minister of Pakistan Anwaar-ul-Haq Kakar took place on November 9, 2023, on the sidelines of the 16th ECO in Tashkent. Both leaders expressed satisfaction with the current state of relations between Azerbaijan and Pakistan and discussed ways to further strengthen bilateral economic ties, trade, commerce activities, and investment opportunities.

In an interview with Azernews, Dr. Mehmood Ul Hassan Khan emphasized the importance of activating the Intergovernmental Commission and cooperation in energy and transport links. Energy cooperation between Azerbaijan and Pakistan has become a significant topic and a major driver of bilateral relations between the two countries. Azerbaijan has shown great interest in providing liquefied natural gas (LNG) to Pakistan at a discounted price. In addition, Azerbaijan has invested in Pakistan’s solar energy industry, which will help alleviate Pakistan’s energy problems in the future.

Pakistan is also interested in collaborating with Azerbaijan in the field of petrochemicals and solar energy. The Alternative Energy Development Council of Pakistan’s Energy Ministry, the Private Energy and Infrastructure Council, and the State Renewable Energy Agency of Azerbaijan have jointly developed strategies for Pakistani companies to invest in Azerbaijan’s renewable energy sector. Civil aviation cooperation is also gaining momentum, with Azerbaijan Airlines (AZAL) starting direct flights between Baku and Islamabad, which will further enhance tourism, education, culture, and commercial ties.

The finalization and implementation of the Preferential Trade Agreement (PTA) and Transit Trade Agreement (TTA) between Azerbaijan and Pakistan are expected to enhance bilateral trade volumes in the near future. Azerbaijan’s zero customs duties on rice exports from Pakistan have led to a significant increase in rice exports. To further strengthen trade, more food items should be included in this category, opening up new opportunities for both countries and their business communities. Various sectors such as trade, trans-regional connectivity, energy, tourism, science, information technology, education, culture, agriculture, mining, infrastructure development, and more will be key areas of bilateral trade.

Mutual cooperation in information and communication will also benefit both countries. Pakistan’s private sector and companies are increasingly investing in Azerbaijan’s IT and communication sectors. Close collaboration between media companies, newspapers, and the film industry is recommended to strengthen culture and tourism between the two countries. Pakistani IT companies have also been invited to operate and invest in the reconstructed liberated territories of Azerbaijan, which are being developed into smart villages and cities.

Source: Azernews