PM says Azerbaijan has reaffirmed commitment to invest $2 billion in Pakistan

Arab News

29-05-2025

ISLAMABAD: Prime Minister Shehbaz Sharif said this week Azerbaijan had reaffirmed its commitment to invest $2 billion in Pakistan and would increase cooperation in spheres such as commerce, defense, education and health.
Sharif made the remarks as he left the city of Lachin in Azerbaijan on Wednesday evening and flew onwards to Tajikistan, the last stop in a five-day regional diplomacy tour that also took him to Turkiye and Iran.
'We have discussed joint cooperation in the fields of trade, commerce, investments,' Sharif said after meeting President Ilham Aliyev of Azerbaijan.
'He again reiterated his commitment to invest $2 billion in Pakistan and … have more coordination in commerce, defense production, education and health and many other areas.'
On Wednesday, Sharif, Aliyev and Turkish President Tayyip Erdogan had met for a trilateral summit in Lachin and pledged to work together for the goal of economic development and regional prosperity and to turn their brotherhood into a 'strategic partnership.'
Turkiye is a longtime ally of Pakistan, while Baku and Islamabad have moved closer in recent years with a flurry of visits and bilateral agreements.
Erdogan and Aliyev had also openly pledged support for Pakistan and expressed solidarity during its latest military confrontation with archrival India earlier this month.
'Political, valid economic, energy, mutual investment, transportation, defense, agriculture, information, technology, and other spheres are the ones where there are ample opportunities to advance cooperation through joint projects,' Aliyev said as he addressed Wednesday's summit, adding that Azerbaijan had invested over $20 billion in the Turkish economy and was prepared to invest $2 billion into Pakistan's.
He also said Azerbaijan envisaged closer cooperation with Pakistan's defense industry.
'We do believe there is great potential and it's of great importance. Joint military exercises and projects in the defense industry amplify the potential of our armed forces or defense cooperation ensures peace and stability across a vast geography,' Aliyev said.
There have been widespread reports in recent weeks that Azerbaijan may have dramatically increased its procurement from Pakistan of JF-17 'Thunder' light multirole fighter aircraft from an initial 16 units to a staggering 40, in a deal reportedly valued at $4.2 billion.
The aircraft in question are said to be the latest and most advanced iteration of the JF-17 family— Block III— a 4.5-generation fighter co-developed by Pakistan and China and hailed as one of the most cost-effective combat aircraft in the current global market.