The Pakistan Stock Exchange (PSX) and the Baku Stock Exchange (BSE) have inked a Memorandum of Understanding (MoU) in an online ceremony, aiming to boost bilateral collaboration between their respective capital markets.
In a statement, the PSX said the MoU will enable robust communication channels between the two markets and foster mutual growth and development in the financial services sectors of both countries. PSX Managing Director and CEO Farrukh Sabzwari and BSE Management Board Chairman Ruslan A. Khalilov signed the accord.
Under the partnership, PSX and BSE will exchange expertise in market operations, product development, and regulatory best practices. The collaboration would explore cross-border investments and initiatives to enhance market efficiency and liquidity. Key areas of cooperation include facilitating dual listings and investment fund trading, jointly developing products, sharing insights on market operations and regulations, supporting staff secondments, and engaging in capacity-building initiatives for mutual benefit.
“This MoU represents an important milestone to strengthen cooperation between the capital markets of Pakistan and Azerbaijan,” said Sabzwari. “We believe that by sharing knowledge and expertise, both exchanges can create more dynamic and competitive capital markets, ultimately benefiting investors and businesses in both countries,” he added.
Echoing his sentiments, Khalilov said: “We are delighted to partner with the Pakistan Stock Exchange, a collaboration that reflects our shared vision for advancing capital markets in our regions.” He said the MoU would enable innovative opportunities, cross-border investments, and knowledge exchange, facilitating a stronger financial future for both Azerbaijan and Pakistan.
The strategic partnership is expected to pave the way for closer ties between the financial sectors of Pakistan and Azerbaijan, contributing to overall economic growth and investment in both countries.