Azerbaijan plans to invest $2 billion in Pakistan's energy, infrastructure spheres

Azerbaijan plans to invest $2 billion into Pakistan's economy, with key agreements set to be signed during the upcoming visit of Pakistan’s Prime Minister Shehbaz Sharif to Baku at the end of February.

Abdul Aleem Khan, Pakistan’s Minister of Privatization, Investment, and Communication, confirmed the development, noting that Prime Minister Shehbaz will visit Central Asian countries this month. The investment will primarily target oil and gas exploration, as well as the development of renewable energy and energy efficiency, Caliber.Az reports via Pakistani media.

Khan emphasized that Azerbaijan could also play a significant role in Pakistan’s motorway projects and other infrastructure ventures, reinforcing the growing economic cooperation between the two nations.

The announcement follows a series of high-level meetings in Baku, where Minister Aleem Khan met Azerbaijani officials, including Prime Minister Ali Asadov, Minister for Energy Parviz Shahbazov, Minister for Transport Rashad Nabiyev, Deputy Minister of Economy Samad Bashirli, and SOCAR President Rovshan Najaf. These discussions focused on enhancing trade, investments, and bilateral economic ties, building upon the strong foundation established during Azerbaijani President Ilham Aliyev's visit to Pakistan last year.

Azerbaijani officials expressed particular interest in Pakistan’s privatization program, including government-run enterprises, and pledged full support to further trade and investment initiatives.

Prime Minister Asadov highlighted the deep bond of brotherhood between the two countries, which would be reinforced by this expanded economic cooperation. He also commended Pakistan’s recent economic development and reiterated Azerbaijan’s commitment to supporting increased investments.

The talks also addressed collaboration in energy projects, infrastructure development, and trade corridors, including potential rail networks linking Pakistan to Central Asia.

This investment partnership marks a significant step forward in strengthening the ties between Azerbaijan and Pakistan, with both nations looking to build on their already close relations.

By Khagan Isayev