Prime Minister Shehbaz Sharif has directed the Ministry of Commerce to develop a detailed action plan aimed at significantly boosting the trade volume between Pakistan and Azerbaijan, with the goal of reaching $2 billion. This initiative is part of the broader efforts to strengthen bilateral relations between the two countries, following the prime minister’s visit to Azerbaijan last month, where he and Azerbaijani President Ilham Aliyev agreed to enhance bilateral trade and investment opportunities.
During the visit, both leaders discussed expanding cooperation in key sectors such as trade, energy, tourism, and education. As part of the agreements made, they committed to raising bilateral investment to $2 billion through collaborative projects that benefit both nations. Several memorandums of understanding (MoUs) and agreements were also signed to formalize this commitment and set the groundwork for future cooperation.
In a statement released by the Prime Minister’s Office (PMO), it was confirmed that PM Shehbaz Sharif chaired a review meeting focused on the implementation of the MoUs and agreements signed during his trip to Azerbaijan. The meeting aimed to ensure the swift execution of these agreements and the effective follow-up on the commitments made by both governments.
One of the key outcomes of the meeting was the formation of a dedicated committee to oversee the implementation of these agreements. The committee will be led by Deputy Prime Minister and Foreign Minister Ishaq Dar, and its primary focus will be to facilitate discussions and agreements on energy and infrastructure projects that were part of the $2 billion investment pledge made by Azerbaijan’s president.
The creation of this committee highlights the importance of accelerating the bilateral cooperation between Pakistan and Azerbaijan. PM Shehbaz stressed the need to ensure that all necessary preparations are made on a priority basis in anticipation of the upcoming visit of the Azerbaijani President, scheduled for next month. This visit is expected to further solidify the partnership and explore additional avenues for collaboration in various sectors.
The Pakistani government’s efforts to elevate the trade and investment relationship with Azerbaijan reflect a strategic move to enhance economic ties and create new opportunities for growth. By focusing on key sectors such as energy and infrastructure, both countries hope to foster a mutually beneficial environment that will not only increase trade but also encourage joint ventures and long-term projects that will contribute to sustainable economic development.
Prime Minister Sharif’s proactive approach underscores the importance of international partnerships in diversifying Pakistan’s economic base and boosting trade with non-traditional partners. Azerbaijan, with its growing energy sector and expanding economic influence, offers significant opportunities for Pakistani businesses, particularly in the fields of energy, construction, and technology.
In conclusion, the direction given by PM Shehbaz Sharif for an action plan to elevate Pakistan-Azerbaijan trade to $2 billion signifies a critical step in advancing bilateral relations. Through continued collaboration and the implementation of the agreements signed, both countries are poised to make substantial strides toward a stronger economic future. The upcoming visit of the Azerbaijani President further reinforces this commitment, paving the way for deeper economic ties and greater cooperation in the years to come.