Pakistan keen on joining BRICS, says Muhammad Aurangzeb

ISLAMABAD: Finance Minister Senator Muhammad Aurangzeb has reiterated Pakistan’s desire to join BRICS.

In his separate interview with a Russian media house, Muhammad Aurangzeb noted that Pakistan is already an active member of the Shanghai Cooperation Organisation and can play a constructive role within the BRICS framework.

He expressed Pakistan’s interest in learning from Russia’s experience in applying artificial intelligence in public finance and budgeting processes, while recognizing the continued importance of human oversight in policymaking and decision-making.

On regional connectivity, Muhammad Aurangzeb asserted the importance of developing trade corridors, including the International North-South Transport Corridor, to support resilient trade flows amid global economic uncertainties.

He further identified energy, oil and gas, minerals, mining and industrial cooperation, including the possible establishment of a steel plant, as key areas of potential collaboration between Pakistan and Russia, noting that discussions are ongoing at the ministerial level.

The Minister highlighted that Azerbaijan has publicly expressed an appetite to invest close to two billion dollars in Pakistan. He noted that discussions are underway on several projects, including a potential oil pipeline investment.

Muhammad Aurangzeb also highlighted Pakistan’s interest in learning from Azerbaijan’s advances in digital services, technology-led service centres, artificial intelligence, fintech and cybersecurity.

He further underscored the potential of developing new trade and transport corridors between Pakistan, Central Asia and Azerbaijan.

He also stressed the importance of developing financial instruments such as guarantees, export credit mechanisms, banking linkages and Islamic finance tools to support the ambitious trade and investment agenda between the two countries.