Azerbaijan to Invest $2-3 Billion in Pakistan: Minister for Petroleum
Minister for Petroleum, Musadik Malik, revealed that Azerbaijan is considering a substantial investment of $2 to $3 billion in Pakistan. The focus of this investment will be on the mineral sector, particularly oil and gas exploration. The Azerbaijani President’s upcoming visit is seen as a significant opportunity to strengthen trade relations between the two countries.
During the visit, discussions will revolve around increasing textile exports and promoting the IT sector. Prime Minister Shehbaz Sharif is eager to enhance economic cooperation with friendly nations through investments rather than aid.
Moreover, PM Sharif recently proposed establishing tripartite mechanisms for economic and investment cooperation between Pakistan, Turkiye, and Azerbaijan. This move aims to solidify the trilateral partnership across various sectors, including economic, energy, tourism, cultural, and technological exchanges.
Overall, these developments are poised to boost economic ties between Pakistan and Azerbaijan and pave the way for future collaborations in diverse fields.