Pakistan’s Deputy Prime Minister, Ishaq Dar, recently led discussions to evaluate investment proposals with Azerbaijan, aiming to strengthen economic ties between the two nations. This initiative follows Azerbaijani President Ilham Aliyev’s letter to Prime Minister Shehbaz Sharif, advocating for collaborations in defense, energy, economy, logistics, and transport sectors to enhance their strategic partnership.
In February, during Prime Minister Sharif’s visit to Baku, both countries agreed to sign agreements in April to boost bilateral investments to $2 billion. These agreements encompass cooperation in trade, energy, tourism, education, and other sectors. Notably, in September of the previous year, Azerbaijan procured JF-17 Block III fighter jets from Pakistan, reportedly in a $1.6 billion deal.
Pakistan, currently navigating economic challenges under a $7 billion International Monetary Fund program, is actively seeking to enhance revenue through increased trade and investment with friendly nations. The collaboration with Azerbaijan is a strategic move toward economic recovery and growth.
During President Aliyev’s visit to Pakistan last year, a joint committee was established to advance projects in various sectors, including trade, commerce, information technology, tourism, telecommunication, and mineral resources. At that time, Prime Minister Sharif highlighted that the existing trade volume of $100 million did not reflect the true potential between the two countries, emphasizing the need for expanded economic cooperation.
These ongoing efforts signify a mutual commitment to deepening economic relations and exploring new avenues for collaboration, aiming for substantial benefits for both Pakistan and Azerbaijan.
