ISLAMABAD, June 27 (PPI): Prime Minister Shehbaz Sharif has directed the authorities concerned to formulate a comprehensive framework to strengthen economic partnership with Azerbaijan in investment and trade sectors.

Chairing a meeting here in Islamabad on Thursday regarding the promotion of economic and trade relations with Central Asian Republics especially Azerbaijan, he said there is an enormous potential of trade and investment between Pakistan and Azerbaijan.

Highlighting the unique strategic location of Pakistan, he said Pakistan offers a natural economic corridor through Sea waters for Central Asian states. The Prime Minister said Pakistan and Azerbaijan have longstanding fraternal ties spanning decades.

He further said foreign investment is increasing in the country due to the business and investment-friendly policies of the government.

The meeting was briefed that negotiations are underway to have preferential trade agreement with Azerbaijan as there is a huge potential of energy cooperation with Azerbaijan.

The Prime Minister was also briefed about the steps taken to increase business and trade volume and potential and investment opportunities between Pakistan and Azerbaijan.