Prime Minister Shehbaz Sharif said on Monday that Pakistan and Azerbaijan would sign agreements in April, increasing bilateral investments to $ 2 billion, administered by the State Pakistan radio reported.
The announcement occurred when the prime minister met with the president of Azerbaijan, Ilham Aliyev, in Baku, where he had arrived yesterday on an official visit of two days.
Pakistan and Azerbaijan enjoy a long -standing brotherhood bond, backed by shared values and common aspirations. The visit of Prime Minister Shehbaz underlines the commitment of both nations to deepen bilateral ties, improve economic cooperation and promote regional collaboration.
“Pakistan and Azerbaijan have decided to improve the scope of bilateral investment of up to $ 2 billion in areas of beneficial mutual projects,” said the report, added that the decision was made during their conversations between the two leaders.
Going to a joint press conference with President Aliyev later, Prime Minister Shehbaz said: “I am extremely grateful when he announced that Azerbaiyan will invest dollars of $ 2 billion in Pakistan in companies that are mutually beneficial, which will bring dividends to both countries “.
By pointing out that the deadline of one month had been given to “both parties to finish all arrangements”, the prime minister also confirmed that a delegation from Azerbaiyan would visit Pakistan in April to sign those agreements.
“In April, God, once everything is discussed and decided, I will be deeply honest and extremely happy to receive it in Islamabad for ink these agreements,” he said.
Highlighting the defense ties among the countries, the prime minister asked to improve those having “joint defense production facilities”. “When the Azerbaijan delegation visits Pakistan in April, this will be one of the high priority agendas,” said Prime Minister Shehbaz.
In September last year, Azerbaijan bought the JF-17 Block III combat aircraft of Pakistan, according to reports in an agreement of $ 1.6 billion.
Speaking about the Memorands of Understanding (MOU) in an oil project, the prime minister said that “they would contribute greatly to promote our sincere efforts to have very good dividends in the times to come.”
“The State Petroleum Company of the Republic of Azerbaijan (SOCAR) and its Pakistani counterpart have extended the LNG frame for another two years. A commercial company has also been established. “
The prime minister also highlighted the viability of the port of Gwadar as a “destination for imports and exports”, stating that it would have a very positive impact throughout the region.
“Our friendship and brotherhood extend from the warm waters of the Arabic sea to the Caspian Sea, and we will solidify and expand this friendship,” Prime Minister Shehbaz promised.
Meanwhile, President Aliyev also confirmed his country’s plans to invest “up to $ 2 billion in Pakistan’s economy.”
“We need to increase our commercial turnover. We have a way to do it, especially considering the Azerbaijan plan to invest up to $ 2 billion in the economy of Pakistan, which I announced during my state visit to Pakistan last summer, ”he said during the press conference.
The leader’s press conference occurred after the two held a bilateral meeting today,
Prime Minister Shehbaz was received by President Aliyev at the Presidential Palace in Baku and an honor guard was presented, while the national hymns of both countries were also played, Pakistan radio reported.
Signed mous
After the high -level meeting between Prime Minister Shehbaz and President Aliyev, the two leaders also witnessed a ceremony to sign the MOU and the agreements.
The agreements aimed to boost bilateral cooperation in different fields, including trade, energy, tourism and education, according to Pakistan radio.
The two countries signed a memorandum of understanding between the State Petroleum Company of the Republic of Azerbaijan (Socar) and the Organization of Border Works of Pakistan (FWO) and the oil of the State of Pakistan (PSO) for the collaboration in the project of Oil Pipeline of Machike-Thallian-Tarujabba.
Pakistan and Azerbaijan also signed an agreement to amend the Framework Agreement for the Sale and Purchase of Liquefied Natural Gas Loads (LNG) related to the Sales and Purchase Agreement of GNL Master, added the report.
A MOU was also signed between the city of Azerbaijan of Nakhchivan and Lahore to promote cooperation in the areas of culture, tourism, urban development, education, science, economy and other relevant fields of public life.
As part of his commitments, Prime Minister Shehbaz and Azerbaiyan leaders Associated Press of Pakistan reported.
The Prime Minister will pay tribute to the Victoria Monument dedicated to the Heroes and Mártires of the Nagorno-Karabakh War of 44 days. President Aliyev will organize a dinner reception in honor of the prime minister and his delegation, the report added.
During his visit, Prime Minister Shehbaz will also participate in conversations at the delegation level to discuss areas of mutual interest and cooperation.
Discussions will focus on strengthening bilateral relations, expanding trade and investment, improving cooperation in the energy sector, synergizing efforts to deal with climate change, deepening defense collaboration and promoting cultural exchanges.
The prime minister is accompanied by the Vice Prime Minister and Minister of Foreign Affairs, Ishaq Dar, Commerce Minister Jam Kamal Khan and other officials.
After landing in Baku last night, Prime Minister Shehbaz said he waited for productive conversations with Azerbaijan leadership to further strengthen deep bilateral relations.
“He landed in the beautiful city of Baku, where the past and the future converge in a vibrant hug. The city looks even more lovely under a snow blanket! He said in an X publication.
“I hope to have productive discussions to further strengthen the deep ties between Pakistan and Azerbaijan. We also seek to improve our commercial and investment ties, ”he added.
