Pakistan and Azerbaijan to Reinitiate Discussions on Preferential Trade Agreement
Published on: December 1, 2023.
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Pakistan and Azerbaijan have agreed to resume negotiations on the Preferential Trade Agreement (PTA) in order to strengthen their economic ties and enhance bilateral trade. This decision was made during a meeting between Azerbaijan’s Ambassador Bilal Hayee and Pakistan’s Federal Minister for Commerce and Industries & Production, Dr Gohar Ejaz.
The main objective of these discussions is to facilitate and promote bilateral trade and investment, with a focus on identifying opportunities for mutual economic growth. In the first phase, both countries have agreed to negotiate a list of 15 items.
Dr Gohar Ejaz expressed optimism about the potential of a PTA, highlighting Azerbaijan’s ability to become a key trading partner for Pakistan. The goal is to conclude the negotiations within the next 30 days.
The resumption of negotiations is a positive development, especially considering the previous stalemate in trade talks between the two countries. Now, they have reached a mutual understanding to revive and expedite discussions to strengthen economic cooperation.
Minister Gohar Ejaz also emphasized the significant trade opportunities that Azerbaijan offers for Pakistan, particularly in sectors such as rice, information technology, and the hotel industry. Azerbaijan’s decision to lift restrictions on rice imports from Pakistan is a positive step towards fostering greater economic collaboration.
Source: [Source](https://islamabadpost.com.pk)
