Pakistan is actively pursuing membership in BRICS to enhance regional connectivity, diversify trade routes, and attract investment-led growth, Finance Minister Muhammad Aurangzeb said.
Speaking to Russia’s RIA Novosti, Aurangzeb said Pakistan, already a member of the Shanghai Cooperation Organization, could make constructive contributions to BRICS. The country is also exploring alternative cross-border payment systems as part of its engagement with the bloc.
Aurangzeb highlighted that Pakistan’s economic agenda focuses on macroeconomic stability, trade expansion, and improving investor confidence. He noted that strong political ties with Azerbaijan are turning into concrete economic projects, with Azerbaijan showing interest in investing nearly USD 2 billion in Pakistan. Priority sectors include energy, oil and gas, and minerals.
The finance minister explained that Azerbaijani support would be structured to facilitate trade and investment rather than provide aid. This could include central bank placements or project-linked financing to support investors in Pakistan. He also emphasized cooperation opportunities in digital services, fintech, artificial intelligence, and cybersecurity.
Aurangzeb stressed the importance of South-South cooperation as global trade faces pressures. He mentioned new trade and transport corridors linking Pakistan, Central Asia, and Azerbaijan. Financial tools such as guarantees, export credit mechanisms, banking linkages, and Islamic finance would be key to boosting bilateral trade.
Regarding investor facilitation, the minister said maintaining macroeconomic stability is the government’s top priority. Pakistan’s foreign exchange reserves are steadily improving, now covering almost three months of imports. Sovereign guarantees and export credit agency support could be considered for viable projects.
On digital assets, Aurangzeb said the central bank is assessing cryptocurrencies. A dedicated virtual assets regulatory authority will regulate the sector while managing risks related to capital flows and compliance.
The finance minister also highlighted the potential of AI in agriculture, finance, healthcare, and digital infrastructure. He said Pakistan’s freelancer base could benefit from AI adoption, improving productivity and income.
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Aurangzeb emphasized that regional connectivity, including the International North-South Transport Corridor, and cooperation in energy and industrial sectors, remain critical for resilient trade flows.
