Azerbaijan and Pakistan have reached a consensus to promote joint projects and enhance trade partnerships, with practical initiatives set to begin in the coming days, Report informs referring to Pakistan's Special Investment Facilitation Council (SIFC).

This agreement was achieved during a meeting between the Ambassador of Azerbaijan to Pakistan, Khazar Farhadov, and the Minister for Privatisation, Investment Board, and Communications, Abdul Aleem Khan, according to a press release.

The ongoing diplomatic engagements between the two nations over the past several months, including the exchange of high-level delegations and Pakistan's active participation in the COP29 conference held in Baku, have started yielding positive outcomes.

Aleem Khan highlighted the potential for expanding bilateral cooperation in various sectors, including tourism. "We need to convert our mutual relations into business and bilateral trade, and positive progress is being made on both sides toward this goal," he stated.

The minister invited companies from Azerbaijan to invest in Pakistan and launch business ventures, highlighting that, under current circumstances, foreign investments could be structured through government-to-government (G2G) and business-to-business (B2B) arrangements.

He specifically discussed opportunities for investment in Pakistan's infrastructure sector, including the M6 and M9 Motorways connecting Karachi to Sukkur and Sukkur to Hyderabad. Khan pointed out that Pakistan offers immense potential in various sectors, which foreign investors should seize and utilize effectively.

On his part, Ambassador Khazar Farhadov assured Pakistan of Azerbaijan's full cooperation, pledging that his country would actively pursue investment opportunities and joint projects.

The meeting also explored trilateral collaboration involving Pakistan, Azerbaijan, and Türkiye. It was decided to designate a Focal Person from the Board of Investment to maintain close coordination with Azerbaijan.