Baku: Pakistan and Azerbaijan have decided to enhance the scope of bilateral investment up to two billion dollars in areas of mutual beneficial projects. The decision was made during talks between Prime Minister Shehbaz Sharif and President of Azerbaijan Ilham Aliyev at the Presidential Palace in Baku on Monday.
According to Radio Pakistan, the agreement was announced during a joint news conference where Prime Minister Shehbaz Sharif emphasized the unity among political parties in Pakistan aimed at strengthening the friendship between the two countries. He highlighted the importance of expanding the cordial and friendly relations between Pakistan and Azerbaijan to the economic sector.
Prime Minister Sharif expressed confidence that the Memorandums of Understanding signed and agreements planned for later this year would significantly benefit both nations. He also underscored the importance of enhancing defence ties and initiating joint manufacturing of defence equipment, which is anticipated to have long-term impacts.
The Prime Minister also discussed the proposal by Azerbaijan’s President for an international infrastructure corridor, suggesting that Pakistan’s Gwadar Port could facilitate imports and exports, thereby positively transforming the region. He affirmed Pakistan’s support for the Azerbaijani vision.
Shehbaz Sharif thanked President Aliyev for the warm hospitality extended to his delegation during the visit and reiterated Pakistan’s support for Azerbaijan on the Karabakh issue, while acknowledging Azerbaijan’s support for Pakistan on the Kashmir issue.
Addressing the Palestine issue, Prime Minister Sharif called for a permanent ceasefire in Gaza and emphasized the need for a two-state solution. He also expressed gratitude towards Azerbaijan for dispatching a delegation to Islamabad to aid in the beautification of the federal capital.
President Ilham Aliyev of Azerbaijan acknowledged the discussions on important bilateral, regional, and international matters, underscoring the strategic importance of cooperation at both government and people-to-people levels. He stressed the need to increase trade turnover, noting that current figures are only in the millions despite the potential for growth.
Aliyev revealed plans to finalize agreements regarding international connectivity, energy, economy, and mining sectors within a month. He added that ten Memorandums of Understanding were signed, setting a framework for future cooperation.
The Azerbaijan President noted satisfaction with the quality of defence equipment acquired from Pakistan and discussed opportunities for joint manufacturing of defence industry products. He also highlighted ongoing projects related to connectivity and transportation.
Lastly, President Aliyev praised Prime Minister Shehbaz Sharif for his vision and reforms in Pakistan, which have yielded significant results in economic and political stability.