Prime Minister Shehbaz Sharif said Monday that the president of Azerbaijan, Ilham Aliyev, would visit Pakistan in April to formalize investment projects worth $ 2 billion.
“This will be a mutually beneficial agreement for both countries,” said Prime Minister, who is on an official two -day visit to the country in Central Asia, while heading to a business forum organized in collaboration with the Export Promotion Agency and investments of the Republic of Azerbaijan (Azpromo).
Early in the day, the two countries signed multiple agreements to boost bilateral cooperation in different fields, including commerce, energy, tourism, education and others, which solidifies the association between the two countries even more.
The Prime Minister and President Azerí witnessed the document exchange ceremony, after their bilateral meeting and the conversations at the level of delegation that cover cooperation in multiple sectors.
When heading to the Business Forum, Prime Minister Shehbaz said that both countries have agreed a “very clear way to follow.” “We are going to improve our bilateral trade, which costs only $ 40 million and barely reflects the force of our relationship, to $ 2 billion as soon as possible,” he promised.
Citing an example, he said, the president of Azerbaiyan “very generously exempt” the duty of importation on the basmati rice of Pakistan and “this is how we can advance.”
Similarly, he asked the Minister of Commerce and the Deputy Prime Minister, who were present at the occasion, to concentrate on those areas “where we can reduce these rates so that our imports and exports can really improve.”
Giving details about bilateral trade, the prime minister said that liquefied natural gas (LNG) was another commercial product that could be added to the commercial group.
“The JF-17 combat aircraft are another tall ticket article that Pakistan and Azerbaijan pursue very actively,” he said, expressing optimism that if they really put the act together “we can achieve a value of $ 2 billion that is worth exchanging Between two countries “.
“This is how Arabic sea water is gathering with the water of the Caspian Sea … This rigor and this enormous energy and synergy will really transform our great relationships into portfolios and trade commitments and unprecedented investments,” he added.
Appreciating the work achieved by both teams, Prime Minister Shehbaz expressed his confidence that smaller problems would be addressed within a month.
Shehbaz further emphasized the close and improved cooperation between the two commercial communities to explore more commercial and investments roads and cited agriculture, industry and IT sectors with immense growth potential.
The prime minister also announced the constitution of a permanent office in Pakistan, which includes both parties to work in this regard with the help of AI and real -time information, ensuring that an effective mechanism was established. The teams should solve a robust mechanism, which could only help them big, he added.
The prime minister said that the North-South corridor would be an efficient, reliable and profitable means of transport that would help achieve its objectives.
Gwadar’s port would play a very fundamental role, he said and said he worked closely in this project.
There were huge opportunities on both sides that should be completely explored, the prime minister emphasized.
President Ilham Aliyev, in his comments, said that such an initiative was although smaller, but an important part of his brotherhood.
Previously, the prime minister received an honor guard from the Azerbaijan armed forces in the Zagulba presidential palace, where the memoranda of understanding (Mou) were signed.
The Prime Minister, who marks his second visit to the country since he assumed the position in March 2024, has been accompanied by a high -level ministerial delegation.
The delegation includes the Vice Prime Minister and Minister of Foreign Affairs, ISHAQ Dar, Minister of Commerce Jam Kamal Khan, Minister of Investment and Privatization Abdul Aleem Khan, Minister of Pakistani abroad and development of human resources Chaudhry Salik Hussain, Minister of Information Atalullah Tarar and Special Assistant of Prime Minister Syed Tariq Fatemi.
Mous exchanged
The two countries signed a memorandum of understanding between the state oil company of the Republic of Azerbaijan (Socar) and the Organization of Border Works of Pakistan (FWO) and Pakistan State Oil Company Limited for collaboration in the White White White White White Odipeline de Machike-Thallian-Tarujabba.
The documents were exchanged by the president of Socar Rovshan Najaf and the general director of FWO Abdul Sami.
Meanwhile, the president of Socar Rovshan Najaf and MD PRL ZAHID MIR exchanged the documents of a Mou between Azerbaijan Spara and Pakistan Refinery Limited (PRL) and Pakistan State Oil Company Limited.
Both countries also signed an No. 1 amendment agreement for the Framework Agreement for Sale and Purchase of LNG Load related to the Sales and Purchase of LNG of Master. The president of Socar, Rovshan Najaf, and the CEO Pakistan Lng Limited Masood Nabi exchanged the previously signed documents.
The president of Socar, Rovshan Najaf, and the CEO of PSO Syed Muhammad Taha exchanged documents from a Mou between PSO and Socar Trading SA and the recognition of the sale of the term and the purchase agreement for oil products and between PSO and Star Trading .
Dar and his Azeri counterpart Jeyhun Bayramov exchanged the documents of a Mou between Nakhchivan, a city of the Autonomous Republic of Azerbaijan and Lahore of the city of Nakhchvivan to promote cooperation in the fields of culture, tourism, urban development, education, economy and science and technology.
Discussions also focused on expanding trade and investment, improving cooperation in the energy sector, synergizing efforts to deal with climate change, deepening defense collaboration and promoting cultural exchanges.
As part of his commitments, Prime Minister Shehbaz and Azerbaiyan leadership will also address the Pakistan-Azerbaijan business forum today.
The forum will bring together the business leaders of both countries to explore roads for joint and commercial opportunities and investment, emphasizing the collaboration of companies to business (B2B).
Pakistan and Azerbaijan share a long -standing brotherhood link, backed by shared values and common aspirations. This visit underlines the commitment of both nations to deepen their bilateral ties, improve economic cooperation and promote regional collaboration.
