Baku, February 24, 2025: Prime Minister Shehbaz Sharif announced on Monday that Azerbaijan’s President Ilham Aliyev will visit Pakistan in April to formalize agreements for $2 billion in investment projects.
“This will be a mutually beneficial arrangement for both countries,” PM Shehbaz stated, addressing a business forum in Baku, organized in collaboration with Azerbaijan’s Export and Investment Promotion Agency (AZPROMO).
Earlier in the day, Pakistan and Azerbaijan signed multiple agreements to enhance cooperation in trade, energy, tourism, education, and other sectors. These agreements, aimed at strengthening economic and strategic ties, were signed in the presence of PM Shehbaz and President Aliyev following their bilateral meeting and delegation-level talks.
Speaking at the business forum, PM Shehbaz emphasized a clear roadmap for enhancing trade and investment. He expressed Pakistan’s commitment to expanding bilateral trade from the current $40 million to $2 billion in the near future.
As an example of progress, he highlighted Azerbaijan’s exemption of import duties on Pakistani Basmati rice, which he called a step toward trade facilitation. He urged Pakistani officials, including the commerce minister and deputy prime minister, to explore additional tariff reductions to further boost trade.
Pakistan and Azerbaijan are exploring LNG trade as part of their growing economic partnership.
The sale of JF-17 fighter jets to Azerbaijan remains a high-priority agenda. PM Shehbaz expressed optimism that if both sides accelerate their efforts, the $2 billion trade target could be achieved. The North-South Corridor is expected to provide efficient, reliable, and cost-effective transportation, enhancing regional connectivity. PM Shehbaz stressed the strategic importance of Gwadar Port, pledging to work closely with Azerbaijan on connectivity projects.
To streamline trade and investment, PM Shehbaz announced the establishment of a permanent Pakistan-Azerbaijan Business Bureau, leveraging artificial intelligence and real-time data to support business communities from both nations. He urged stakeholders to develop a robust mechanism to ensure smooth collaboration.
“There are enormous opportunities on both sides that should be fully explored,” he emphasized, encouraging stronger business-to-business (B2B) interactions.
President Ilham Aliyev welcomed the initiatives, stating that while the projects may appear small individually, they form an essential part of the two countries’ strong brotherly relations.
Earlier in the day, PM Shehbaz received a guard of honor at Zagulba Presidential Palace, marking the significance of his second visit to Azerbaijan since taking office in March 2024.
Several Memorandums of Understanding (MoUs) and agreements were exchanged to enhance cooperation in energy, trade, and infrastructure.
