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Pakistan's Finance Minister: There is great potential for investment and export flows between our countries -Interview

Muhammad Aurangzeb, Finance Minister of the Islamic Republic of Pakistan

14 November 2024 13:01 (UTC +04:00)

Interview with Muhammad Aurangzeb, Finance Minister of the Islamic Republic of Pakistan, to APA.

- Is Pakistan considering allocating funds to the Climate Investment Fund created by Azerbaijan?

First of all, I would like to congratulate the government of azerbaijan to host COP 29. This is a wonderful event. Pakistan is very committed both in terms of climate resiliency and decarbonization as we go forward. Romina Khurshid, Coordinator to PM on Climate Change at Ministry of Climate Change and Environmental Coordination is here and she's been sort of leading the whole effort. The prime minister Shahbaz Sharif was here. So we are fully committed to take this forward.

- Does Pakistan have any direct investment plans in Azerbaijan?

I think from finance and investment perspective, the opportunity now that we have between the two countries is hige. As you know, when the President Azerbaijan was in Pakistan, he mentioned an investment, overall investment of $2 billion. So the potential of the investment flows between the two countries and the trade flows between two countries is huge. Now by definition banking has to follow because banking is what facilitates the trade flows and investment flows.

- Pakistan had a bank in Azerbaijan, but it was closed. What can you say about the countries' plans to open a bank?

Pakistan would welcome the banks coming into Pakistan and whatever the Pakistani banking system can do to help support, assess the investment and the trade flows between the two countries, we'll ensure that that happens.