ISLAMABAD: Azerbaijan is set to sign $2 billion worth of investment agreements with Pakistan in various sectors during Prime Minister Shehbaz Sharif’s visit to Baku later this month.
The agreements are expected to focus on oil and gas exploration, renewable energy, and infrastructure development, strengthening bilateral economic ties.
Federal Minister for Privatisation, Investment, and Communications Abdul Aleem Khan, currently leading a Pakistani delegation in Baku, confirmed the investment deals. He highlighted privatisation opportunities in Pakistan, stating that Azerbaijan could play a role in motorway projects and other infrastructure ventures.
During his visit, Aleem Khan met Azerbaijani Prime Minister Ali Asadov, where both leaders discussed expanding cooperation in trade, investment, and economic development. The talks followed the state visit of Azerbaijan’s president to Pakistan last year, which significantly bolstered bilateral relations.
Aleem Khan also held high-level meetings with Azerbaijan’s Minister for Energy Parviz Shahbazov, Minister for Transport Rashad Nabiyev, Deputy Minister of Economy Samad Bashirli, and President of the State Oil Company Rovshan Najaf. Discussions centered on energy projects, infrastructure investment, and Azerbaijan’s interest in Pakistan’s privatisation programme, particularly in government-run enterprises.
Azerbaijani officials expressed keen interest in increasing investments and assured full cooperation in enhancing trade ties. SIFC Coordinator Lt Gen Sarfaraz Ahmed, Petroleum Secretary Momin Ali Agha, and other senior Pakistani officials accompanied Aleem Khan during these negotiations.
Minister Shahbazov, after meeting Aleem Khan, stated that the discussions marked a major step in strengthening bilateral cooperation in oil and gas, renewable energy, and energy efficiency. Talks with Rovshan Najaf also focused on expanding mutual trade and reviewing progress on existing memorandums of understanding (MoUs).
According to a press release from Aleem Khan’s office, both sides also reviewed trade corridors, rail networks, and other connectivity initiatives between Pakistan and Central Asian states. The agreements are expected to pave the way for increased economic collaboration between Pakistan and Azerbaijan in key sectors.
