Azerbaijan and Pakistan plan to sign a Preferential Trade Agreement, which will help boost business links between the countries, said Khazar Farhadov, Ambassador of Azerbaijan to Pakistan, according to Pakistani media.

He made the remarks during his visit to Sialkot Chamber of Commerce and Industry (SCCI), where he met Abdul Ghafoor Malik, President of SCCI.

Farhadov added that the trade turnover between Pakistan and Azerbaijan has increase three times in 2022, through joint efforts from both sides.

As Malik pointed out, Pakistan is keen to use the economic potential existing between the two countries, noting that, in this regard, SCCI plans to send a trade delegation to Azerbaijan.

The sides agreed on putting joint efforts to promote direct business-to-business linkages.

Meanwhile, the trade turnover between Azerbaijan and Pakistan in 2022 amounted to $28.1 million, which is an increase of more than 140 percent year-on-year ($11.7 million in 2021). Azerbaijani exports to Pakistan in the reporting period totaled $7.6 million, while imports amounted to $20.5 million.