ISLAMABAD: Later this month, Prime Minister Shehbaz Sharif will visit Baku, where Azerbaijan will sign $2 billion investment deals in a number of sectors.
The investment agreements would probably concentrate on oil and gas exploration, energy efficiency, and the use of renewable energy sources. This would open the door for more cooperation in these vital fields.
According to Abdul Aleem Khan, Minister for Privatisation, Investment, and Communications, who is now leading a Pakistani delegation in Baku, PM Shehbaz will travel to Central Asian nations this month, and $2 billion in investment agreements will be inked with Azerbaijan for Pakistan.
Mr. Khan emphasised the several prospects in Pakistan, such as the state-owned enterprise (SOE) privatisation. He pointed out that Pakistan’s road projects and other infrastructure endeavours may benefit greatly from Azerbaijan’s involvement.
Aleem Khan met with Ali Asadov, the prime minister of Azerbaijan, on Saturday while on his tour. The two leaders talked about enhancing their trade, investment, and economic cooperation ties. The talks expanded on the president of Azerbaijan’s state visit to Pakistan last year, which greatly strengthened bilateral relations.
Prime Minister Asadov highlighted that further economic cooperation would strengthen the strong brotherly ties that exist between Pakistan and Azerbaijan. He praised Pakistan’s recent economic progress and promised that Azerbaijan will fully support further investment.
Aleem Khan also attended high-level discussions with the president of the State Oil Company of Azerbaijan, Rovshan Najaf, deputy minister of economy Samad Bashirli, minister of transportation Rashad Nabiyev, and minister of energy Parviz Shahbazov.
Mutual commerce, energy project investment, and infrastructure development—including Azerbaijan’s interest in Pakistan’s motorway projects—were the main topics of these talks.
Officials from Azerbaijan showed a great deal of interest in Pakistan’s privatisation initiative, especially with regard to government-owned businesses.
They promised the delegation from Pakistan their full assistance in advancing investment and economic relations. Aleem Khan attended these important discussions with senior Pakistani authorities, including Petroleum Secretary Momin Ali Agha, SIFC Coordinator Lt Gen Sarfaraz Ahmed, and other government officials.
Following his meeting with Aleem Khan, Mr. Shahbazov stated that the discussion of enhancing bilateral ties in the energy industry was fruitful. A major step towards improving bilateral relationships was taken during the conference, which included prospects for collaboration in the fields of energy efficiency, renewable energy, and oil and gas.
Aleem Khan met with Mr. Najaf to discuss methods to increase mutual trade and improve bilateral collaboration.
The pace of work on various memorandums of understanding between the two nations was also reviewed during the talks with Azerbaijani ministers, according to a press release from Mr. Khan’s office. Additionally, special discussions were held regarding trade corridors, rail networks, and other communication channels from Pakistan to Central Asian states.
