Pakistani Minister Says Azerbaijan and Pakistan Turn Strong Political Ties into Billions in Investments

On December 16, Pakistan’s Minister of Finance and Revenue, Muhammad Aurangzeb, outlined plans to translate long-standing political ties with Azerbaijan into concrete economic results. Following high-level contacts during COP29 and visits by Prime Minister Shehbaz Sharif, Aurangzeb noted that Azerbaijan has expressed readiness to invest nearly $2 billion in Pakistan, focusing on energy, minerals, and mining.

The minister highlighted that SOCAR is currently considering participation in a major oil pipeline project. He emphasized that Azerbaijani companies are increasingly interested in long-term strategic investments rather than short-term engagements. Regarding a potential $1 billion loan from Azerbaijan, Aurangzeb clarified that Pakistan views such financing as a supportive mechanism for trade and investment flows rather than traditional aid.

Furthermore, Pakistan is keen to adapt Azerbaijan’s experience in building a digital economy, specifically in fintech and AI, as it moves toward its “Digital Pakistan” goals. Aurangzeb stressed the growing importance of South–South cooperation and the strategic need for transport corridors linking Pakistan with Central Asia and Azerbaijan. He noted that current bilateral trade volumes are below $50 million, which does not reflect the true potential of the two economies.