BAKU, Azerbaijan: Pakistan and Azerbaijan have agreed to enhance the scope of bilateral investment to $2 billion, focusing on strategic and mutually beneficial projects.
The consensus was reached during talks between Pakistan’s Prime Minister Shehbaz Sharif and Azerbaijan’s President Ilham Aliyev at the Presidential Palace in Baku on Monday, Radio Pakistan reported.
Later addressing a joint news conference, Prime Minister Shehbaz Sharif said all the political parties in Pakistan are united to further strengthen their friendship with Azerbaijan. He said the cordial and friendly ties between Pakistan and Azerbaijan should be expanded to the economic front as well.
He was confident that the Memorandums of Understanding signed between the two countries and agreements which will be signed later in April this year will go a long way in promoting our sincere efforts to have very good dividends in future.
He added that both Pakistan and Azerbaijan should enhance their defence ties to a higher level. The PM noted the commitment to start joint manufacturing of defence equipment will also have far-reaching impacts.
The Prime Minister described the proposal put forward by the President of Azerbaijan for an international infrastructure corridor as a timely and essential initiative, emphasising that Pakistan’s Gwadar Port could play a significant role in facilitating imports and exports.
He stated that this initiative would have a transformative and positive impact across the entire region. The Prime Minister also reaffirmed Pakistan’s full support for the vision of Azerbaijan’s President.
He reiterated Pakistan’s commitment to strengthening and deepening the relationship and brotherhood between the two nations through mutual efforts.
Shehbaz Sharif said Pakistan has always supported Azerbaijan on the Karabakh issue and Azerbaijan extended its support on the issue of Kashmir without any political conditions.
The Prime Minister underscored the significance of a permanent ceasefire in Gaza. He said today is the time that the pause in Gaza should be converted into a permanent ceasefire and the dream of the two-state solution to the area should be materialised.
President of Azerbaijan Ilham Aliyev in his remarks said the two sides discussed important bilateral, regional, and global issues and emphasised the close partnership between Pakistan and Azerbaijan. He said we reconfirmed the strategic importance of our cooperation between the government and people-to-people level.
He said we will continue to support each other on all international issues and the sovereignty and territorial integrity of our countries.
He noted that the two sides reviewed trade and economic matters, jointly expressing concern over the current low trade turnover, which amounts to only a few million dollars.
He emphasised the need to increase this figure, highlighting the potential both nations have to boost trade.
President Ilham Aliyev mentioned that they had agreed to finalise all agreements concerning international connectivity, energy, economy, and mining sectors within the next month.
He said Pakistan and Azerbaijan also discussed opportunities for joint manufacturing of defence industry products. He said the two sides also discussed projects related to connectivity and transportation.
MoU signed
Earlier Pakistan and Azerbaijan signed multiple Memorandums of Understanding and agreements to boost bilateral cooperation in different fields including trade, energy, tourism and education.
Prime Minister Shehbaz Sharif and Azerbaijan President Ilham Aliyev witnessed the documents exchange ceremony.
The two countries signed an MoU between the State Oil Company of Azerbaijan Republic (SOCAR) and Pakistan’s Frontier Works Organization (FWO) and PSO for collaboration in the Machike-Thallian-Tarujabba White Oil Pipeline Project.
Pakistan and Azerbaijan also signed an amendment agreement to the Framework Agreement for the sale and purchase of LNG cargoes related to the Master LNG Sale and Purchase Agreement.
A Memorandum of Understanding was also signed between Azerbaijan’s city of Nakhchivan and Pakistan’s city of Lahore to promote cooperation in the areas of culture, tourism, urban development, education, science, economy and other relevant fields of public life.
After arriving in Baku last night, Prime Minister Shehbaz said he was looking forward to productive discussions with Azerbaijan’s leadership for further strengthening deep-rooted bilateral relations.
Landed in the beautiful city of Baku, where the past and future converge in a vibrant embrace. The city looks even more enchanting under a blanket of snow! Looking forward to productive discussions for further strengthening the deep rooted bonds between Pakistan and Azerbaijan.… pic.twitter.com/G3lVAgHRCt
— Shehbaz Sharif (@CMShehbaz) February 23, 2025
“Landed in the beautiful city of Baku, where the past and future converge in a vibrant embrace. The city looks even more enchanting under a blanket of snow!” he said in a post on X.
