Pakistan is set to attract nearly $2 billion in investment from Azerbaijan as both countries move to convert their strong diplomatic ties into practical trade and business outcomes, Finance Minister Senator Muhammad Aurangzeb said on Tuesday.
Speaking in an interview, the minister shared that Azerbaijan has shown serious interest in investing across key sectors of Pakistan’s economy, particularly energy, oil and gas, minerals, and mining. He expressed optimism that some of these projects could move quickly from discussion to execution.
According to Aurangzeb, relations between Pakistan and Azerbaijan have strengthened noticeably since the current government took office. This progress has been supported by regular high-level engagements, visits by Prime Minister Muhammad Shehbaz Sharif, and Pakistan’s active participation at the COP29 summit in Baku.
The finance minister revealed that talks are underway with SOCAR, Azerbaijan’s state-owned oil company, which is considering investment in an oil pipeline project in Pakistan. Although negotiations are still in the early stages, Aurangzeb said this project could become one of the first to materialize under the proposed investment package.
He also confirmed Azerbaijan’s willingness to extend an additional $1 billion in financing to Pakistan. This support could come in different forms, including deposits with the State Bank of Pakistan or direct backing for Azerbaijani investors operating in the country.
Highlighting the need for deeper economic cooperation, Aurangzeb noted that current bilateral trade stands at less than $50 million, a figure that does not reflect the true potential of both economies. He said both sides are now working to identify priority sectors to expand trade and make it more meaningful and sustainable.
The developments signal a positive step toward stronger economic collaboration, with both countries aiming to turn goodwill into long term growth and shared prosperity.
