Azerbaijan Urges Joint Ventures to Strengthen Ties with Pakistan

Azerbaijan’s President Ilham Aliyev wants to take things up a step with Pakistan through joint ventures in defense, energy, economy, logistics, and transport, as per his letter to PM Shehbaz Sharif on Pakistan’s 85th Republic Day, focusing on plans to expand their strategic partnership.

This follows Sharif’s recent Baku visit, where both sides agreed to sign investment deals worth $2 billion in April. Trade, energy, tourism, and education were already on the table, not forgetting Azerbaijan’s $1.6 billion JF-17 fighter jet purchase from Pakistan last year.

Aliyev’s Pakistan trip in 2023 led to a joint committee tackling projects across multiple sectors. Sharif, at the time, considered the existing $100 million trade volume lacking compared to the actual potential.

For Pakistan, currently juggling an IMF bailout and desperate for foreign investment, this could be a much-needed lift. With the Special Investment Facilitation Council (SIFC) reforming deals, the country is heavily relying on exports and strategic partnerships to climb out of its economic slump.