Prime Minister Shehbaz Sharif announced on Monday that Pakistan and Azerbaijan are set to sign significant agreements in April, aimed at boosting bilateral investments to $2 billion. This announcement was made during the Prime Minister’s official visit to Azerbaijan, where he met with President Ilham Aliyev in Baku.
The two countries share a long-standing bond, grounded in mutual values and aspirations. This visit highlights their shared commitment to enhancing economic cooperation, expanding regional partnerships, and strengthening defense ties. The $2 billion investment deal will focus on mutually beneficial projects that aim to promote long-term growth in both nations.
During a joint press conference with President Aliyev, PM Shehbaz expressed gratitude for Azerbaijan’s willingness to invest in Pakistan, noting that the agreements would be finalized within the next month, with a formal signing scheduled for April. He also mentioned that an Azerbaijani delegation would visit Pakistan in April to finalize the details of these agreements.
Defense cooperation was also a key focus of their discussions. PM Shehbaz emphasized the potential for joint defense production facilities between Pakistan and Azerbaijan. This follows Azerbaijan’s purchase of JF-17 fighter jets from Pakistan in a $1.6 billion deal last year.
In addition, the two leaders discussed the ongoing collaboration on energy projects. An MoU was signed between the State Oil Company of Azerbaijan Republic (SOCAR) and Pakistan’s Frontier Works Organization (FWO), along with an agreement to extend the LNG framework by another two years. They also signed a memorandum to enhance cooperation between the cities of Nakhchivan (Azerbaijan) and Lahore (Pakistan) in areas such as culture, tourism, education, and urban development.
Both leaders agreed on the importance of expanding trade relations, with President Aliyev reiterating Azerbaijan’s plans to invest up to $2 billion in Pakistan’s economy. They also discussed ongoing efforts to increase connectivity, transportation links, and people-to-people exchanges, underlining the importance of growing bilateral trade beyond its current modest level.
This official visit and the agreements being finalized will significantly strengthen the partnership between Pakistan and Azerbaijan, paving the way for greater cooperation in various sectors such as defense, energy, trade, and cultural exchanges.
