ISLAMABAD: Prime Minister Shehbaz Sharif encouraged Azerbaijan to explore oil and gas investment opportunities in Pakistan, his office said this week, as Islamabad reviewed trade, economic and investment exchanges with its regional ally.
The statement followed Sharif’s meeting with Azerbaijan’s Minister of Economy Mikayil Jabbarov on Tuesday, who is on a visit to Pakistan with a high-level delegation. The Pakistani prime minister visited Azerbaijan in November to discuss bilateral cooperation in trade, energy and defense sectors.
During the talks, the two sides conducted an “extensive review” of bilateral trade and investment cooperation, the Prime Minister’s Office (PMO) said about Sharif’s meeting with Jabbarov. It also said the two agreed on the need to accelerate efforts to diversify and deepen economic exchanges, with discussions covering defense production, petroleum and minerals, infrastructure development, dairy and livestock, hospitality and the information technology sectors, the statement added.
“Prime Minister Sharif reiterated Pakistan’s proposal to establish a Pakistan‑Azerbaijan Joint Investment Company with equal contributions from both countries,” the PMO said on Tuesday. “He also welcomed Azerbaijan’s interest in the White Oil Pipeline Project and encouraged SOCAR to explore upstream oil and gas opportunities in Pakistan.”
The White Oil Pipeline project, inaugurated in 2005, aims to facilitate the smooth transportation of oil between Karachi’s Keamari district and Mehmood Kot in Punjab, with the goal of reducing the traffic congestion caused by approximately 4,000 trucks and mitigating negative environmental impacts.
The project is managed by the Pak-Arab Pipeline Companies Limited (PAPCO) and is considered crucial for sustaining industrial growth and agricultural productivity, especially as energy demands in the country continue to rise.
Jabbarov thanked Pakistani government for hosting the Azeri delegation, hoping that ongoing engagements would culminate in the finalization of the Roadmap on Cooperation in Commerce, Economy, Industry and Investment (2025‑2028) between the two countries.
Pakistan seeks to position itself as a key trade and transit hub by connecting landlocked Central Asian states to the global market via the Arabian Sea. Islamabad has also eyed partnerships with various countries around the world, hoping they can tap into its natural oil, gas and critical mineral reserves as it seeks to escape a prolonged macroeconomic crisis.
