Prime Minister of Pakistan Shehbaz Sharif met with Azerbaijan’s President Ilham Aliyev in Baku on Monday. The visit aimed to strengthen ties and enhance economic cooperation. Both leaders discussed increasing bilateral investment to $2 billion in mutually beneficial projects.
Major Investment Deals Expected in April
During a joint press conference, Shehbaz Sharif expressed gratitude for Azerbaijan’s commitment to investing $2 billion in Pakistan. He confirmed that both sides had set a one-month deadline to finalize arrangements. A high-level Azerbaijani delegation will visit Pakistan in April to sign the agreements.
Defence Cooperation to Expand
Shehbaz Sharif emphasized the need to enhance defence ties between the two nations. He proposed joint defence production facilities as a key agenda item for the upcoming discussions. Azerbaijan recently purchased JF-17 Block III fighter jets from Pakistan in a $1.6 billion deal.
Oil and Energy Agreements Extended
The leaders reviewed progress on energy collaboration, particularly in oil and liquefied natural gas (LNG) projects. The State Oil Company of Azerbaijan Republic (Socar) and Pakistan’s energy partners extended their LNG framework agreement by two years. Additionally, a trading company was established to facilitate future energy deals.
Gwadar Port as a Trade Hub
Shehbaz Sharif highlighted the potential of Gwadar Port as a key destination for imports and exports. He stressed that enhanced connectivity between Pakistan and Azerbaijan would benefit the entire region.
President Aliyev Affirms Economic Commitment
Ilham Aliyev reiterated Azerbaijan’s plan to invest $2 billion in Pakistan’s economy. He emphasized the need to increase bilateral trade, which currently stands at a modest level. Azerbaijani representatives are evaluating Pakistani projects, and agreements are expected to be signed by early April.
Agreements Signed to Strengthen Cooperation
Shehbaz Sharif and Ilham Aliyev witnessed the signing of multiple Memorandums of Understanding (MoUs). These agreements covered trade, energy, tourism, and education. A key MoU was signed between Socar, Pakistan’s Frontier Works Organisation (FWO), and Pakistan State Oil (PSO) for collaboration on the Machike-Thallian-Tarujabba White Oil Pipeline Project.
Lahore and Nakhchivan Strengthen Ties
An MoU was signed between the cities of Lahore and Nakhchivan. The agreement aims to boost cultural, tourism, economic, and scientific cooperation. Both cities will work together in urban development and other areas of mutual interest.
Shehbaz Sharif to Address Business Forum
As part of his visit, Shehbaz Sharif will address the Pakistan-Azerbaijan Business Forum. The forum will focus on trade and investment opportunities. He will also pay tribute at the Victory Monument, dedicated to Azerbaijan’s war heroes. President Aliyev will host a dinner reception in his honor.
Pakistan and Azerbaijan Strengthen Diplomatic Ties
The visit highlights both nations’ commitment to expanding economic and strategic partnerships. Delegation-level talks will cover climate change, defence collaboration, and cultural exchanges. Deputy Prime Minister Ishaq Dar and Commerce Minister Jam Kamal Khan are accompanying Shehbaz Sharif on this important diplomatic mission.
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