ISLAMABAD: Azerbaijan will sign agreements in various sectors worth $2 billion for investment in Pakistan during the upcoming visit of Prime Minister Shehbaz Sharif to Baku later this month.
It is likely that the investment agreements would focus on the exploration of oil and gas, harnessing renewable energy and energy efficiency, which would pave the way for further collaboration in these crucial areas.
Minister for Privatisation, Investment and Communications Abdul Aleem Khan, who is currently in Baku leading a Pakistan delegation, said that PM Shehbaz would visit Central Asian countries this month, while agreements worth $2bn would be signed with Azerbaijan for investment in Pakistan.
Mr Khan highlighted the vast opportunities available in Pakistan, including the privatisation of state-owned enterprises (SOEs). He noted that Azerbaijan could also play a significant role in Pakistan’s motorway projects and other infrastructure ventures.
During his visit, Aleem Khan met Azerbaijani Prime Minister Ali Asadov on Saturday. Both leaders discussed strengthening bilateral relations in trade, investments and economic cooperation. The discussions built upon the state visit of Azerbaijan’s president to Pakistan last year, which significantly boosted bilateral ties.
Prime Minister Asadov emphasised that Pakistan and Azerbaijan share a deep bond of brotherhood, which would be further reinforced through expanded economic cooperation. He commended Pakistan’s recent economic development and assured of Azerbaijan’s full support for increasing investments.
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 the President of the State Oil Company of Azerbaijan Rovshan Najaf.
These discussions focused on mutual trade, investment in energy projects and infrastructure development, including Azerbaijan’s interest in Pakistan’s motorway projects.
Azerbaijani officials expressed keen interest in Pakistan’s privatisation programme, particularly in government-run enterprises.
They assured the Pakistani delegation of full cooperation in furthering trade and investment ties. Senior Pakistani officials, including SIFC Coordinator Lt Gen Sarfaraz Ahmed, Petroleum Secretary Momin Ali Agha and other government representatives, accompanied Aleem Khan during these crucial meetings.
Mr Shahbazov said after meeting Aleem Khan that a productive meeting took place to discuss strengthening bilateral relations in the energy sector. The meeting marked a significant step in strengthening bilateral relations, including opportunities for cooperation in oil and gas, renewable energy and energy efficiency.
