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Karachi: Pakistan Stock Exchange (PSX) and Baku Stock Exchange (BSE) have signed a Memorandum of Understanding (MOU) to enhance bilateral cooperation between the capital markets of Pakistan and Azerbaijan. The agreement, finalized in an online ceremony, aims to bolster communication and foster growth within the financial services sectors of both nations.
According to a statement by Pakistan Stock Exchange Limited, the MOU was signed by Mr. Farrukh H. Sabzwari, Managing Director and Chief Executive Officer of PSX, and Mr. Ruslan A. Khalilov, CFA, Chairman of the Management Board of BSE. The virtual event, attended by senior officials from both exchanges, underscores their commitment to developing their respective capital markets.
The collaboration will focus on exchanging expertise in market operations, product development, and regulatory practices. It will also explore initiatives for cross-border investments to improve market efficiency and liquidity. Key areas include facilitating dual listings, investment fund trading, and developing joint products. The partnership also encourages staff exchanges and capacity-building initiatives.
Mr. Farrukh H. Sabzwari stated, “This MOU represents an important milestone to strengthen cooperation between the capital markets of Pakistan and Azerbaijan.” He emphasized the potential benefits for investors and businesses in both countries through shared knowledge and expertise.
Mr. Ruslan A. Khalilov expressed similar views, highlighting the collaboration’s potential to advance capital markets in both regions. He noted that the agreement could lead to innovative opportunities and cross-border investments, contributing to a stronger financial future.
The partnership is expected to strengthen ties between Pakistan and Azerbaijan in the financial sector, promoting economic growth and improving the investment climate in both countries.