ISLAMABAD: Pakistan and Azerbaijan are engaged in negotiations to increase investment by up to $2 billion in joint projects under the Special Investment Facilitation Council (SIFC).

According to a statement by Ministry of Information and Broadcasting, both nations are poised to sign agreements focusing on investments in energy, infrastructure, and privatization sectors. The discussions aim to pave the way for enhanced economic collaboration and mutual benefits.

The talks also involve efforts to expand trade and improve connectivity with Central Asian states, as Azerbaijan has expressed interest in investing in Pakistan’s motorway and other infrastructure projects. These discussions underline the commitment of both countries to strengthen their economic ties further.

In addition to infrastructure, Pakistan and Azerbaijan are exploring partnerships in energy, renewable energy, and energy-saving initiatives. Azerbaijan’s interest in Pakistan’s privatization program has been noted, and the government in Islamabad has made commitments to advance these discussions.

The potential increase in economic cooperation between Pakistan and Azerbaijan, facilitated by the Special Investment Facilitation Council, represents a significant development in bilateral relations.