BAKU: Pakistan and Azerbaijan have taken a significant step in strengthening their diplomatic and economic relations, with Prime Minister Shehbaz Sharif and Azerbaijan’s President Ilham Aliyev overseeing the exchange of multiple agreements aimed at enhancing cooperation in trade, energy, tourism, education, and investment.
The Memorandums of Understanding (MoUs) were exchanged during PM Shehbaz’s two-day visit to Azerbaijan, marking his second official trip to the country since taking office in March 2024.
$2 Billion Investment & Strengthening Economic Ties
Speaking at a joint media briefing, PM Shehbaz Sharif expressed gratitude to President Aliyev for Azerbaijan’s commitment to invest $2 billion in Pakistan, calling it a major step towards deepening economic cooperation.
“A one-month timeline has been set to finalize all projects and agreements, which will be signed during the Azerbaijani President’s visit to Pakistan in April,” said PM Shehbaz.
President Aliyev, while expressing regret over the relatively low trade turnover between the two countries, emphasized that concrete projects from Pakistan are under evaluation by Azerbaijan.
“We have set ambitious yet realistic targets, and by April, we will finalize and sign all agreements,” he added.
Key Agreements Signed
A series of MoUs and agreements were exchanged between Pakistan and Azerbaijan, focusing on energy, trade, and city partnerships.
- Energy Cooperation
- SOCAR (State Oil Company of Azerbaijan) & Pakistan’s Frontier Works Organization (FWO) & Pakistan State Oil (PSO): Collaboration on the Machike-Thallian-Tarujabba White Oil Pipeline Project.
- SOCAR & Pakistan Refinery Limited (PRL) & PSO: Strengthening cooperation in refinery development and petroleum products trade.
- Amendment to Framework Agreement on LNG Sales: Enhancing LNG procurement between SOCAR and Pakistan LNG Limited.
- PSO & SOCAR Trading SA: Acknowledgment for long-term petroleum product supply agreements.
- Trade & Economic Partnerships
- MoU between Nakhchivan (Azerbaijan) & Lahore (Pakistan): Strengthening cooperation in culture, tourism, urban development, education, economy, and science & technology.
Focus on Business & Investment
As part of his engagements, PM Shehbaz Sharif and the Azerbaijani leadership are set to address the Pakistan-Azerbaijan Business Forum today. The forum will bring together business leaders from both countries to explore opportunities for:
- Joint ventures
- Trade expansion
- Investment collaborations
- Business-to-business (B2B) partnerships
Strengthening a Historic Brotherhood
Pakistan and Azerbaijan share a long-standing bond, rooted in mutual respect, shared values, and strategic interests. This visit marks a new phase in economic and diplomatic ties, with both nations committed to deepening collaboration in energy, defense, climate action, and cultural exchanges.
With an April deadline set for finalizing key projects, this landmark visit signals a new era of Pakistan-Azerbaijan cooperation, aimed at delivering tangible economic benefits for both countries.
