Azerbaijan-Pakistan business forum signs MoU worth $2.5m to bolster trade
Business
The platform is a launch pad for a broader regional expansion
BAKU (Hareem Jadoon) - In a move set to strengthen economic ties between Azerbaijan and Pakistan, Karabakh-Pakistan Trade House and Beyond Technologies, a global tech firm, have signed a Memorandum of Understanding (MoU) worth $2.5 million to develop a cutting-edge digital trade platform.
The agreement, signed during the Azerbaijan-Pakistan Business Forum in Baku, aims to modernize and facilitate trade between the two countries by integrating AI-driven fraud detection, digital Know Your Customer (KYC) verification, and future banking and payment integrations.
The MoU was signed by Babək Hüseyn, CEO of Karabakh-Pakistan Trade House, and Agha Zain Haider, Chief Operating Officer of Beyond Technologies, in the presence of business leaders, government officials, and key stakeholders from both nations.
This partnership underscores the increasing role of technology in shaping international commerce, especially in emerging markets like South Asia and the Caucasus.
Beyond, an innovative global firm focused on providing digital solutions for small and medium enterprises (SMEs), will spearhead the development of the platform, which is expected to revolutionize cross-border trade by enhancing security, transparency, and efficiency.
The platform is a launch pad for a broader regional expansion, starting with Azerbaijan and Pakistan and extending into the Middle East and beyond.
The trade relationship between Azerbaijan and Pakistan has seen steady growth in recent years, and digital innovation is expected to play a crucial role in accelerating this momentum.
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The MoU signing took place at the Azerbaijan-Pakistan Business Forum, a high-profile event organized by the Small and Medium Business Development Agency of Azerbaijan (KOBIA).
The forum brought together over 200 business leaders, investors, and policymakers from both nations, facilitating discussions on investment opportunities, economic partnerships, and technological advancements in trade.
Azerbaijan’s Minister of Economy, Mikayil Jabbarov, emphasized the strategic importance of strengthening trade relations with Pakistan, particularly in sectors like technology, energy, and infrastructure development.
“Azerbaijan and Pakistan share deep historical and economic ties. We are committed to fostering trade collaborations that benefit businesses and create new opportunities for growth in both nations,” Minister Jabbarov said during the event.
The Karabakh region, which is emerging as a major economic and trade hub, was also a key focus of discussions, with officials highlighting investment prospects in technology, agriculture, and logistics.
With digital transformation shaping the future of global trade, partnerships like the one between Beyond Technologies and Karabakh-Pakistan Trade House are expected to drive economic progress and open new avenues for cross-border commerce.
Read More: Pakistan, Azerbaijan sign accords in multiple sectors
Experts believe that the integration of AI-driven fraud detection, digital KYC, and payment processing solutions will enhance trade efficiency, improve compliance standards, and reduce risks associated with international transactions.
As Azerbaijan and Pakistan continue to strengthen economic ties, this digital trade initiative could serve as a model for other emerging markets, leveraging technology to create a secure, scalable, and efficient trade environment.
With the MoU now in place, Beyond Technologies and Karabakh-Pakistan Trade House will commence work on the development and deployment of the platform, with expectations of a formal launch in the near future.
