Pakistan, Azerbaijan discuss $2bn investment

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

During the discussions, Khan highlighted the vast investment opportunities in Pakistan, particularly in the privatisation of state-owned entities (SOEs), and pointed to sectors such as motorways where Azerbaijan could contribute.

The meeting, which also touched on Pakistan’s upcoming economic engagements, coincided with the announcement of Prime Minister Shehbaz Sharif’s scheduled visit to Central Asia later this month. Khan revealed that agreements worth $2 billion would be signed with Azerbaijan, further bolstering economic cooperation between the two countries.

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

The Pakistani delegation, led by Aleem Khan, also engaged in discussions with Azerbaijan’s ministers of energy, transport and economy. Key topics included mutual trade, investment in infrastructure, including motorways, and the privatisation of Pakistani enterprises. The discussions were framed within the context of ongoing collaboration, with an emphasis on further cooperation in areas such as energy and transportation.

In addition to the bilateral talks, progress on various memorandums of understanding (MoUs) was reviewed, and special attention was given to trade corridors connecting Pakistan with Central Asian nations. The meetings also highlighted efforts to enhance bilateral trade, with Azerbaijan expressing willingness to support Pakistan in its economic development goals.

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