ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday directed the Ministry of Commerce to present a comprehensive action plan to enhance the current trade volume between Pakistan and Azerbaijan to $2 billion.

Chairing a high-level meeting in Islamabad, PM Shehbaz emphasized the need for swift implementation of agreements and memorandums of understanding (MoUs) signed between the two nations. The meeting reviewed progress on the commitments made during the premier's recent visit to Azerbaijan, focusing on strengthening bilateral trade and investment.

During his visit last month, PM Shehbaz and Azerbaijani President Ilham Aliyev agreed to expand investment cooperation, targeting $2 billion in mutually beneficial projects. Both countries signed multiple MoUs and agreements in key sectors, including trade, energy, tourism, and education, with an aim to deepen economic ties.

The Prime Minister's Office (PMO), in a statement issued today, reaffirmed the government's commitment to fostering Pakistan-Azerbaijan relations by ensuring timely execution of agreements. The PMO highlighted that the premier has constituted a special committee under the supervision of Deputy Prime Minister and Foreign Minister Ishaq Dar to oversee the investment commitments made by Azerbaijan. The committee will formulate agreements in crucial sectors such as energy and infrastructure to facilitate Azerbaijan's announced $2 billion investment in Pakistan. PM Shehbaz directed the committee to expedite preparations and address any procedural delays to attract and secure investment in these priority sectors. Furthermore, the premier stressed the importance of completing all necessary arrangements ahead of the anticipated visit of Azerbaijani President Ilham Aliyev to Pakistan next month.

He instructed relevant authorities to ensure that agreements and projects are well-prepared to maximize economic cooperation and bilateral engagements during the high-profile visit. Pakistan and Azerbaijan have been strengthening their economic and diplomatic relations in recent years, with a focus on increasing trade and investment opportunities. The recent agreements mark a significant step in advancing collaboration in multiple sectors, aligning with the vision of both governments to foster regional economic integration. PM Shehbaz reiterated his commitment to expanding Pakistan's economic footprint in the region, urging officials to leverage Azerbaijan's investment interest for sustainable growth and development.

The meeting concluded with a directive to relevant ministries to fast-track policy measures that would facilitate trade and investment between the two countries. The government's proactive approach is expected to create new opportunities for businesses in Pakistan and Azerbaijan, boosting trade, infrastructure, and energy collaboration in the coming years.