Azerbaijan plans multi-billion dollar investment in Pakistan’s mineral sector

Azerbaijan to invest billions in Pakistan's mineral sector

WEB DESK: Minister for Petroleum Musadik Malik announced on Wednesday that Azerbaijan is contemplating a substantial investment ranging between $2 to $3 billion in Pakistan.

In an exclusive interview with a private news channel, Malik highlighted Azerbaijan’s keen interest in Pakistan’s mineral sector, particularly in oil and gas exploration.

He emphasized Azerbaijan’s focus on expanding investments in LNG (liquefied natural gas) alongside traditional oil and gas ventures.

Malik underscored the government’s strategy to prioritise investment over aid from friendly nations, aligning with the prime minister’s agenda to strengthen economic ties with strategic partners.

Anticipating the upcoming visit of Azerbaijani President Ilham Aliyev to Pakistan, Malik expressed optimism that the visit would significantly bolster bilateral trade relations. Discussions during the visit are expected to explore avenues for increasing Pakistan’s textile exports and advancing collaboration in the IT sector.

According to Business Recorder, the minister concluded by stating that these initiatives are poised to elevate economic cooperation between Pakistan and Azerbaijan to new heights.

Read next: PSX falls from record high, closing in red

You May Also Like