Pakistan, Azerbaijan expand economic engagement as PM revives joint investment company proposal

Prime Minister Muhammad Shehbaz Sharif on Tuesday reiterated Pakistan’s proposal to form a Pakistan-Azerbaijan Joint Investment Company, to be capitalised equally by both countries, during a meeting with Azerbaijan’s Minister of Economy, who is currently visiting Islamabad.

The Azerbaijani delegation joined the prime minister for wide-ranging discussions on trade and investment ties, which have been expanding in recent years. Both sides agreed on the need to intensify coordinated efforts to diversify economic exchanges, the PM Office Media Wing said.

Talks reviewed cooperation prospects across multiple sectors, including defence production, petroleum and minerals, information technology, infrastructure, hospitality, and dairy and livestock. The prime minister also welcomed Baku’s interest in Pakistan’s White Oil Pipeline Project and encouraged SOCAR to evaluate upstream oil and gas opportunities in the country.

Senior officials attending the meeting included Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar, Minister for Power Sardar Awais Khan Leghari, and Special Assistant to the Prime Minister on Foreign Affairs Syed Tariq Fatemi.

Highlighting Pakistan’s geographic advantage as the most direct route to Afghanistan and Central Asia, the prime minister emphasised the broader regional connectivity value of deepening ties with Azerbaijan. He also noted Azerbaijan’s role in initiatives such as the Trans-Caspian International Trade Corridor.

Prime Minister Sharif reaffirmed Pakistan’s intent to expand bilateral cooperation and extended an invitation to Azerbaijani President Ilham Aliyev to undertake a visit to Pakistan. Minister Mikayil Jabbarov expressed appreciation for Pakistan’s hospitality and voiced confidence that the two countries would soon finalise their 2025–2028 roadmap covering commerce, industry, economy, and investment.

In a related engagement, Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar held delegation-level talks on Wednesday with Azerbaijan’s Minister of Economy Mikayil Jabbarov. The discussions reviewed potential Azerbaijani investment in Pakistan’s oil and gas sector, minerals and mining, meat and livestock, and the hospitality industry. Both sides also agreed to identify further areas for cooperation. Senior officials from the concerned ministries were present, the DPM Office said.