Pakistan, Azerbaijan discuss $2bn investment

KARACHI: Abdul Aleem Khan, the Federal Minister for Board of Investment, Privatization, and Communications, met with Azerbaijan’s Prime Minister Ali Asadov in Baku to strengthen bilateral ties, with a particular focus on investment and trade.

During the meeting, Khan emphasized the significant investment opportunities in Pakistan, especially in the privatization of state-owned entities (SOEs), and highlighted sectors like motorways where Azerbaijan could play a role.

The talks coincided with the announcement of Prime Minister Shehbaz Sharif’s upcoming visit to Central Asia later this month. Khan revealed that agreements worth $2 billion would be signed with Azerbaijan, further enhancing economic cooperation between the two nations.

Prime Minister Asadov expressed his support for increased investment and bilateral relations, acknowledging the historical partnership between Azerbaijan and Pakistan. Both leaders noted that the relationship had entered a new phase following Azerbaijan’s presidential visit to Pakistan last year.

Khan, leading the Pakistani delegation, also held talks with Azerbaijan’s ministers of energy, transport, and economy. Discussions centered on mutual trade, investment in infrastructure—particularly motorways—and the privatization of Pakistani enterprises. The dialogue focused on ongoing collaboration and future cooperation in areas such as energy and transportation.

The meeting also reviewed the progress on various memorandums of understanding (MoUs) and underscored efforts to improve trade corridors linking Pakistan with Central Asian countries. Both sides expressed a shared commitment to boosting bilateral trade, with Azerbaijan showing readiness to support Pakistan in its economic development.

Aleem Khan was accompanied by senior officials, including SIFC Coordinator Lt Gen Sarfaraz Ahmed and Federal Secretary Petroleum Momin Ali Agha.