ISLAMABAD, Jan 14: Azerbaijan Ambassador to Islamabad Dr Eynulla Madatli expressed the hope on Tuesday that enhanced economic cooperation between the two countries would boost volume of bilateral trade and investment in the coming years.

“The current trade volume is around $7 million, and we invite Pakistanis to invest in the private sector,” said the ambassador of Azerbaijan, when he visited the Dawn office on Tuesday.

He was of the view that direct flights between Baku and Karachi would facilitate trade and investment as well as improve the communication channels.

Ambassador Madatli said that Azerbaijanis were keen to establish joint ventures with Pakistan in textile and sugar sectors, but regretted that ‘until now there is no Pakistani businessman who has invested in a sugar plant there.’

Azerbaijan, he said, had no sugar plant at the moment and was importing sugar from Pakistan. While referring to the ongoing Pak-Azeri defence collaboration, the ambassador said that oil and gas were among the areas of future cooperation between the two countries.

He pointed out that the Iranian businessmen were very active in Azerbaijan, hinting that businessmen in Pakistan also needed to be more aggressive in exploring business opportunities that his country had to offer.

“We have given a go-ahead to all investors,” he stressed, maintaining that Azerbaijan had now passed through the initial period of reconstruction and was ready to do business.