Baku, February 25, 2025 – The Europe Today: The Azerbaijan-Pakistan Business Forum was held in Baku on February 24, bringing together key business leaders from both nations. The event was attended by President of the Republic of Azerbaijan Ilham Aliyev and Prime Minister of the Islamic Republic of Pakistan Muhammad Shehbaz Sharif, who both delivered addresses underscoring the strong political ties and shared economic aspirations between their countries.
In his speech, President Ilham Aliyev welcomed Prime Minister Shehbaz Sharif and the Pakistani delegation, emphasizing the importance of enhancing economic relations to reflect the strong political bond between Azerbaijan and Pakistan. He noted that while bilateral political relations were excellent, trade turnover remained below potential and required significant improvement.
President Aliyev highlighted Azerbaijan’s commitment to investing in Pakistan, recalling the pledge made during his state visit to Pakistan last year to invest $2 billion in Pakistan’s economy. He stressed that following the Prime Minister’s visit to Azerbaijan in November 2023 for COP29, both sides had made substantial progress in identifying concrete projects. He instructed his economic team to expedite negotiations, setting a target for concluding agreements by April 2024. The President further noted that Azerbaijan was particularly interested in energy and infrastructure projects, citing recent agreements between Azerbaijani energy companies and their Pakistani counterparts as a step toward broader cooperation.
Additionally, President Aliyev underscored the importance of improving connectivity between the two nations, particularly through Azerbaijan’s strategic North-South and East-West transportation corridors. He also discussed the potential for collaboration in the defense industry and the pharmaceutical sector, suggesting the establishment of joint manufacturing facilities in Azerbaijan.
Prime Minister Muhammad Shehbaz Sharif, in his address, reaffirmed the deep-rooted ties between Pakistan and Azerbaijan, describing them as built on sincerity, trust, and mutual respect. He emphasized the urgent need to enhance bilateral trade, which currently stands at $14 million, and announced plans to elevate it to $2 billion. The Prime Minister commended President Aliyev’s decision to exempt import duties on Pakistani Basmati rice, calling for further trade facilitation measures.
Shehbaz Sharif expressed Pakistan’s commitment to boosting cooperation in energy, defense, and transportation. He pointed out that LNG trade and the potential sale of Pakistan’s JF-17 fighter jets to Azerbaijan were key areas of mutual interest. He also proposed the creation of a permanent Azerbaijan-Pakistan Information Bureau to facilitate business interactions and ensure real-time information exchange between the private sectors of both nations.
The Prime Minister further highlighted the importance of joint defense manufacturing and efficient connectivity via the North-South Corridor, stressing that Gwadar Port could play a crucial role in regional trade integration. He confirmed that discussions on these initiatives would continue during an Azerbaijani delegation’s visit to Pakistan in April 2024, with the goal of signing concrete agreements.
The Azerbaijan-Pakistan Business Forum marked a significant step in strengthening economic ties between the two countries, setting the stage for increased trade, investment, and strategic partnerships across multiple sectors.
