Pakistan Prime Minister Muhammad Shehbaz Sharif on Monday said Pakistan and Azerbaijan had the potential to boost their bilateral trade to $two billion.

He was addressing Pakistan-Azerbaijan Business Forum in Baku, where he also held one-to-one and delegation level talks with President Ilham Aliyev, Pakistan Foreign Office said in a statement in Islamabad.

Pakistani official media said Sharif also appreciated Aliyef’s announcement back in July 2024 of $two billion Azeri investment in Pakistan.

“We expressed our shared commitment and resolve to strengthen Pakistan-Azerbaijan strategic partnership,” Sharif was quoted as saying.

Also read: https://www.radio.gov.pk/24-02-2025/pakistan-azerbaijan-vow-to-strengthen-bilateral-cooperation

They also emphasised the importance of further enhancing bilateral trade and investment and to explore joint investment projects in the areas of energy, infrastructure, investment and connectivity.

PTA/TTA
The Prime Minister highlighted the implementation of the Preferential Trade Agreement (PTA) and the Transit Trade Agreement (TTA) and also noted that Azerbaijan-Pakistan Chamber of Commerce and Industry has been inaugurated on 12th February 2025 in Pakistan.

Train Service
Pakistan and Russia had agreed several months back to commence corgo train service via Iran and Azerbaijan.

More read:

https://www.arabnews.com/node/2582005/pakistan

Sharif appreciated the North-South Trade Corridor as a cost effective transportation system and connectivity among countries in South Asia, Central Asia and South Caucasus.

Pakistan’s major connectivity route with Central Asia passes through Afghanistan. But given its growing rivalries with Afghanistan’s Taliban government, it has of late begun to prefer the Iranian route.
In past, Pakistan did share a trilateral train route with Iran and Turkey but it remains to be seen whether its transit trade with Russia via Iran and Azerbaijan ptoves successful.