ISLAMABAD: Pakistan is close to finalising a $2 billion investment agreement with Azerbaijan, Prime Minister Shehbaz Sharif said on Friday after meeting Azerbaijani presidential envoy Khalaf Khalafov in Islamabad.
According to an official statement from the Prime Minister’s Office, discussions focused on expanding economic cooperation, particularly in energy and infrastructure, as Pakistan seeks foreign capital to support growth and improve energy security.
Sharif highlighted the long-standing bilateral relationship and said both sides were making progress toward completing the investment framework. He also renewed an invitation for Azerbaijani President Ilham Aliyev to visit Pakistan.
Earlier this month, Pakistan’s finance ministry said Azerbaijan’s state energy firm SOCAR was preparing to advance investments in Pakistan’s oil and gas sector following high-level engagements at the World Economic Forum in Davos.
SOCAR already operates locally through its trading arm, supplying liquefied natural gas cargoes to Pakistan under flexible arrangements that help manage seasonal demand and pricing.
Regional matters were also discussed during the meeting. Khalafov thanked Pakistan for diplomatic support during the 2020 Nagorno-Karabakh conflict and reiterated Azerbaijan’s backing of Pakistan’s position on Kashmir, the statement said.
Pakistan and Azerbaijan have expanded cooperation in recent years, covering energy, defence and broader strategic engagement.
