PAKISTAN has been focusing on fostering trade and investment rather than seeking aid, particularly with neighboring countries and regional allies.
Prime Minister Shehbaz Sharif’s recent foreign visits underscore this shift in policy, where Pakistan emphasizes collaboration over financial assistance.
With the support of friendly nations, Pakistan is striving to stabilize its economy, which is gradually improving with the leadership’s efforts and divine blessings.
A recent visit by the Prime Minister to Azerbaijan, at the invitation of President Ilham Aliyev, marked a significant step in strengthening bilateral relations.
During the visit, both leaders discussed and nearly finalized Azerbaijan’s $2 billion investment in Pakistan, including expanding bilateral trade and enhancing joint production.
The Azerbaijani President assured a visit to Pakistan in April 2025 to finalize these projects, which signals a positive outlook for mutual cooperation.
Prime Minister Sharif also pledged to oversee the implementation of these investments, ensuring timely progress.
Additionally, both countries signed several agreements, including an amendment to the LNG sale and purchase deal and a collaboration for the Machike-Thallian-Tanijabba Oil Pipeline project.
Pakistan and Azerbaijan also committed to furthering cooperation in energy, education and environmental sectors.
During a joint press conference, the Prime Minister highlighted the discussions on the $2 billion Azerbaijan investment and expressed optimism about the upcoming visit of President Aliyev to Pakistan.
He emphasized that the investment would benefit both nations and strengthen their ties further.
The Prime Minister’s visit has brought new dimensions to the relationship between the two countries.
The commitment from both leaderships to develop economic links, focusing on trade and investment, has been unparalleled.
The Azeri President’s assurance of finalizing $2 billion worth of projects during his visit to Pakistan is a welcome step.
The formal agreements and their swift implementation will be key in promoting economic relations, which will open new avenues for collaboration.
Pakistan’s struggling economy urgently needs foreign investment and partnerships to maintain its upward trajectory and address challenges such as inflation, debt and external pressures.
The $2 billion investment commitment from Azerbaijan, particularly in energy, defence and trade, is a significant development.
Moreover, the extension of the LNG agreement between Azerbaijan’s State Oil Company and its Pakistani counterpart signals further progress.
However, it is crucial that these agreements not remain confined to paperwork.
Steps must be taken for their prompt implementation to achieve the desired economic outcomes.
The Prime Minister’s visit has laid a solid foundation and the planned visit of President Aliyev to Pakistan in 2025 will further deepen the mutually beneficial ties between these emerging regional partners.
Pakistan and Azerbaijan are on the path to solidifying their economic partnership, and with dedicated efforts, these collaborations will bear fruit in the coming years.
—The writer is Lahore-based regular columnist and retired Deputy Controller (News), Radio Pakistan.
(zahidriffat@gmail.com)
