PM Shehbaz forms Dar-led body for ‘early realisation’ of accords with Azerbaijan

Published March 4, 2025
Prime Minister Shehbaz Sharif chairs a review meeting on his recent visit to Azerbaijan, in Islamabad on Tuesday. — PID
Prime Minister Shehbaz Sharif chairs a review meeting on his recent visit to Azerbaijan, in Islamabad on Tuesday. — PID

Prime Minister Shehbaz Sharif on Tuesday formed a committee to ensure the early realisation of memorandums of understanding (MoUs) and agreements signed with Azerbaijan during his recent visit to the country.

During PM Shehbaz’s visit to Azerbaijan last week, the two sides had finalised matters related to $2 billion investment by Baku in Pakistan, as well as agreed to expand bilateral trade volume and promote joint defence production.

Deputy PM Ishaq Dar, who also serves as the foreign minister, will head the committee, the Associated Press of Pakistan reported, quoting a press release issued by the Prime Minister’s Office (PMO) today.

The decision to form the panel — tasked with preparing agreements in the energy and infrastructure sectors — came as PM Shehbaz chaired a meeting to review the implementation of the accords signed with Azerbaijan.

The premier directed the authorities to present an action plan to increase the country’s trade volume with Azerbaijan to $2bn.

He further ordered that all preparations be completed “on a priority basis” ahead of the expected visit of Azerbaijan President Ilham Aliyev to the country in April.

During PM Shehbaz’s two-day official visit to the Central Asian state, President Aliyev had also assured the premier that he would visit Islamabad this April to formalise the $2bn agreements for investment in Pakistan.

The prime minister today also “instructed the appointment of trade officers in Azerbaijan and other countries with a significant potential for trade with Pakistan”, the statement read.

PM Shehbaz underscored the “longstanding brotherly relations between Pakistan and Azerbaijan”, adding that the government was taking measures to “capitalise on the vast trade and investment potential between Pakistan and Central Asian states”.

The participants of the meeting were informed that 83 Pakistani and 101 Azerbaijani companies participated in the Pakistan-Azerbaijan Business Forum held in Baku last week, which was attended by the premier.

During the prime minister’s visit, 13 MoUs and agreements were signed between Pakistan and Azerbaijan to promote bilateral cooperation, according to APP.

Out of those, four MoUs pertained to oil that involved Pakistan State Oil Company Ltd (PSO) and State Oil Company of Azerbaijan Republic (Socar).

Another pact was an ame­ndment agreement for the Sale and Purchase of LNG cargoes related to the Master LNG Sale and Purchase Agreement.

Follow Dawn Business on X, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Mineral wealth
Updated 10 Apr, 2025

Mineral wealth

The Baloch unrest is partly the result of the belief that the province’s resources are being used for the rest of the country rather than for Balochistan’s economic development.
Senate shortfalls
10 Apr, 2025

Senate shortfalls

THE latest Citizens’ Report by Pildat on the performance of the Senate of Pakistan is a sobering account of...
Crypto coup
10 Apr, 2025

Crypto coup

IT is quite the coup. One of the most recognisable names in the global cryptocurrency market has been roped in by ...
Following through
Updated 09 Apr, 2025

Following through

Reconciliation, development, and deradicalisation initiatives cannot remain dormant words in a policy document.
Robe rebellion
09 Apr, 2025

Robe rebellion

THE unrest within the Islamabad High Court shows no sign of abating, and it is perhaps just as well that the ...
Fearing birth
09 Apr, 2025

Fearing birth

AMID dramatic aid cuts, the WHO has sounded the alarm about the dangers to Pakistan’s mothers and newborns, asking...