ISLAMABAD: Pakistani Defense Minister Khawaja Asif said on Friday Islamabad and Baku were in the process of finalizing a memorandum of agreement to enhance security ties through cooperation in arms trade, defense infrastructure and intelligence sharing.

Asif was addressing the eighth session of the Pakistan-Azerbaijan joint commission alongside Azerbaijani Defense Industry Minister Vugar Mustafayev who is visiting Islamabad. 

There have been a series of visits by Azerbaijani officials to Pakistan in recent months, as Islamabad seeks closer ties, especially in trade and investment, with former Soviet republics and Central Asian states. 

Last July, Azerbaijan President Ilham Aliyev visited Pakistan and announced that the two nations were working to increase bilateral trade to $2 billion.

“I’m hopeful that once we finalize our memorandums of understanding on cooperation in the field of the defense industry, we will be able to further our security ties through arms trade, defense infrastructure and sharing of intelligence,” Asif said. 

He invited Azerbaijan to join Pakistan’s Strategic Underground Gas Storage (SUGS), a critical component of energy infrastructure, and the White Oil Pipeline project that transports oil from ports to refineries and other distribution points.

Asif also suggested organizing regular trade exhibitions between the two countries to showcase local products in each other’s markets.

Last December, Pakistan waived customs and regulatory duties on imports from Azerbaijan under the Pakistan-Azerbaijan Preferential Trade Agreement. The agreement aimed to boost economic cooperation by reducing tariffs on goods like Pakistan’s sports equipment, leather, and pharmaceuticals and Azerbaijan’s oil and gas products.