Pakistan and Azerbaijan Advance Economic Cooperation and PTA Negotiations

Islamabad, In a pivotal meeting aimed at enhancing bilateral economic relations, Federal Minister for Commerce, Jam Kamal Khan, and Azerbaijan’s Ambassador to Pakistan, Khazar Farhadov, discussed strategies to finalize the Preferential Trade Agreement (PTA) and increase trade and investment between their countries.

According to Press Information Department, Minister Jam Kamal highlighted the growth in trade figures, with exports to Azerbaijan increasing and imports, notably of fertilizers, rising significantly. The ongoing negotiations for a PTA, which has reached the draft finalization stage, are a key focus to unlock the trade potential. Ambassador Farhadov advocated for high-level diplomatic engagements and trilateral cooperation with Turkiye, aiming to reinforce economic and commercial bonds, particularly in the energy and IT sectors.

The discussion also touched on Azerbaijan’s decision to remove import customs duties on Pakistani rice until December 2027, marking a significant step in fostering trade relations. Both officials underscored the necessity of signing the PTA and emphasized strengthening contacts at the people level to enhance mutual economic benefits and explore new avenues for business collaboration.