The Trade Development Authority of Pakistan (TDAP) and Azerbaijan Export and Investment Promotion Foundation (AZPROMO) have signed an memorandum of understanding (MoU) to enhance trade and economic cooperation and to facilitate businessmen of both countries.

The MoU was signed at the inaugural meeting of the Pakistan-Azerbaijan Joint Working Group on Trade held last week in Baku. The Azeri delegation of the Joint Working Group was headed by Sahil Babayev, Deputy Minister of Economy .The Pakistani delegation was led by Mohammad Younus Dagha Secretary, Ministry of Commerce.

The two sides discussed the issues related to preferential tariffs, customs/trade cooperation between the two countries and agreed to explore avenues to boost bilateral trade. Pakistan invited Azerbaijan to join China Pakistan Economic Corridor due to its strategic location as a transit hub for East-West China Europe Corridor. Secretary Commerce also held meeting with Minister of Taxation and discussed possibilities of trade cooperation. 

Pakistan gives immense importance to its trade and economic relations with the Central Asian States. The former Prime Minister of Pakistan Nawaz Sharif laid special emphasis on converting the fraternal relations into strong economic partnership and directed the Ministry of Commerce to establish Joint Working Groups on Trade, Investment and communications with Tajikistan and Azerbaijan for effective engagement on trade and economic issues.

Accordingly, the inaugural meeting of the Pakistan-Tajikistan Joint Working Group on Trade, Investment and Transport, was held on 24-25 July 2017 in Dushanbe. The Tajik delegation of the Joint Working Group was headed by the First Deputy Minister of Economic Development and Trade Saidrahmon Nazrizoda.

The Pakistani delegation was led by Mohammad Younus Dagha. Secretary, Ministry of Commerce. The two sides agreed to initiate the process of customs cooperation between the two countries and to intensify engagement towards increasing bilateral trade. The two sides agreed to make efforts to deepen and further expand trade and economic relations by harmonization of standards, visa facilitation to business men and promotion of Joint Ventures in textiles, food processing and pharmaceuticals. Secretary Commerce also held meetings with Minister of Economic Development and Trade, Chairman of the State Committee on Investment, Minister of Transport and Chairman of Tajikistan Chamber of Commerce and Industry, during the visit. Matters relating to Afghanistan-Pakistan- Tajikistan Transit Trade Agreement, regional connectivity and Quadrilateral Agreement on Traffic in Transit were also discussed.