Pakistan seeks to develop economic ties with Azerbaijan
Azerbaijan and Pakistan, the two strategic partners and allies that have surpassed territorial boundaries and geographical distance, are considering the strengthening of economic ties.
Azerbaijan and Pakistan, the two strategic partners and allies that have surpassed territorial boundaries and geographical distance, are considering the strengthening of economic ties.
Pakistan, one of the largest economies in the South Asia, is expanding relations with the energyrich Caspian country of Azerbaijan in many economic spheres.
Azerbaijani Ambassador to Pakistan Ali Alizade told Trend that Pakistan is currently studying the possibilities of using the resources of Azerbaijan’s telecommunications satellite Azerspace-1, which was launched into orbit on February 8, 2013.
"This issue was previously considered in 2016 during a meeting of the intergovernmental commission on trade and economic cooperation. Then, Azerbaijan offered Pakistan to use the resources of the national telecommunications satellite," the diplomat said.
He added that the issue is currently being considered by relevant bodies of Pakistan and there is a plan to establish cooperation in this sphere.
Azerspace-1, the telecommunication satellite operated by Azercosmos, provides highly-reliable broadband and broadcast solutions to its customers in Europe, Africa, Middle East, the Caucasus, and Central Asia. Such countries as Malaysia, Russia, Germany, Ukraine, Egypt, Georgia, UAE, Lebanon, Cameroon, the United Kingdom, Kyrgyzstan, Tajikistan, Estonia and Belarus use Azerspace-1’s services.
Recently, Azerbaijan’s export mission visited Pakistan, where they discussed expanse of ties between the companies of the two countries. The export mission includes 16 companies specializing in the production of fruits, vegetables, mineral water, fruit juices, sugar and confectionery, cotton, chemical and industrial products.
Azerbaijan and Pakistan are also expected to ink an oil and gas trade deal in late February. Times of Islamabad reported that the governments of the two countries have already considered the issue.
In April 2016, the Oil and Natural Resources Ministry of Pakistan and Energy Ministry of Azerbaijan negotiated the signing of the intergovernmental agreement, which envisages cooperation in the spheres of oil deliveries, supplies of petrochemical production, LPG and LNG, as well as attraction of investments in energy sectors of the two countries, particularly reconstruction of the relevant infrastructure.
The agreement is expected to allow the countries to ink deals worth billions of dollars without going through tenders.
The Foreign Office of Pakistan has earlier given the go-ahead to the signing of an agreement with Azerbaijan, in a move that will lessen Pakistan’s excessive reliance on Middle Eastern countries.
Within the sixth session of Pakistan-Azerbaijan Joint Economic Commission held in April 2016, the sides also agreed on joint the implementation of exploration work by means of setting up a special laboratory and making test productions of oil and gas. Besides, the two countries will exchange scientific-technical developments in the spheres of exploration and extraction, as well as in the training of specialists in oil industry.
Trade turnover between Azerbaijan and Pakistan amounted to $7.3 million in 2016, according to Azerbaijan’s State Customs Committee. Pakistan has already developed a 5year trade plan on the increase of the export volume to Azerbaijan up to $500 million.