Azerbaijan eyes $2-3b investment in Pakistan, says petroleum minister

Musadik Malik highlights country's focus on oil and gas exploration, interest in LNG sector

ISLAMABAD:

Petroleum Minister Musadik Malik announced that Azerbaijan is considering a substantial investment of $2 to $3 billion in Pakistan.

Speaking to a private news channel on Wednesday, Malik revealed that Azerbaijan has shown significant interest in Pakistan’s mineral sector.

He highlighted Azerbaijan’s focus on oil and gas exploration and its keen interest in expanding investments in the LNG sector.

Malik emphasised the government's priority to boost economic cooperation with friendly countries, noting that the prime minister is eager to enhance such collaborations.

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He stated that the government prioritises investment over aid from friendly nations.

Additionally, Malik mentioned that Azerbaijani President Ilham Aliyev is expected to visit Pakistan on Thursday (today), a move anticipated to strengthen trade relations.

The discussions during this visit will likely include increasing textile exports and promoting the IT sector between the two countries, he added.