Prime Minister Shehbaz Sharif said on Monday that President Azerbaijan, Ilham Aliyev, would go to Pakistan in April to formalize agreements for investment projects worth $ 2 billion.
“This will be a mutually beneficial arrangement for the two countries,” said the Prime Minister – which is an official two -day visit to the country of Central Asia – while addressing a sales forum organized in collaboration with the ‘Export and investment promotion agency of the Republic of Azerbaijan (AZPROMO).
Earlier in the day, the two countries signed several agreements to stimulate bilateral cooperation in different fields, including trade, energy, tourism, education and others, further strengthening the partnership between the two countries.
Prime Minister and President Azeri witnessed the document exchange ceremony, following their bilateral meeting and talks at the delegation encompassing cooperation in several sectors.
Addressing the Business Forum, Prime Minister Shehbaz said the two countries agreed on a “very clear path”. “We are going to improve our bilateral trade, which represents only $ 40 million and hardly reflects the strength of our relationship, at 2 billion dollars as soon as possible,” he swore.
Citing an example, he said, the Azerbaijani president “very generously exempt” the right of import on the basmati rice of Pakistan and “this is how we can move forward”.
Likewise, he asked the Minister of Commerce and the Deputy Prime Minister, who were present on this occasion, to focus on these areas “where we can lower these prices so that our imports and exports can really improve”.
By giving details on bilateral trade, the Prime Minister said that liquefied natural gas (LNG) was another commercial goods that could be added to the commercial balance sheet.
“JF-17 Fighter Jets is another high ticket article than Pakistan and Azerbaijan are very actively looking for,” he said, expressing optimism if they assemble the act “, we can reach 2 billions of dollars in commerce between two countries “.
“This is how the water from the sea of Omane meets the water from the Caspian Sea … This rigor and this enormous energy and synergy will really transform our great relationships into portfolios and unprecedented commercial and d commitments ‘Investment, “he added.
Appreciating the work carried out by the two teams, Prime Minister Shehbaz expressed his confidence that the small problems would be resolved within one month.
Shehbaz also underlined close and increased cooperation between the two commercial communities to explore new trade and investment routes and cited agriculture, industry and computer sectors with immense growth potential.
The Prime Minister also announced the constitution of a permanent office in Pakistan, including the two parties to work in this regard with the help of AI and real -time information, ensuring that an effective mechanism would be set up . The teams should develop a robust mechanism, which alone could help them, he added.
The Prime Minister estimated that the North-South corridor would be an efficient, reliable and profitable means of connectivity that would help achieve their objectives.
The port of Gwadar would play a very essential role, he said and assured to work in close collaboration on this project.
There were huge opportunities on both sides that should be fully explored, said the Prime Minister.
President Ilham Aliyev, in his remarks, said that such an initiative was once smaller, but an important part of their fraternity.
Earlier, the Prime Minister received an honorary guard by the armed forces of Azerbaijan at the presidential palace of Zagulba, where the Memorandums de comprehension (MOUS) were signed.
The Prime Minister, marking his second visit to the country since his entry into office in March 2024, was accompanied by a high -level ministerial delegation.
The Delegation Includes Deputy Prime Minister and Foreign Minister Ishaq Dar, Minister for Commerce Jam Kamal Khan, Minister for Investment and Privatization Abdul Aleem Khan, Minister for Overseas Pakistanis and Human Resource Development Chaudhry Salik Hussain, Information Minister Ataullah Tara, and Special Assistant to the Prime Minister Syed Tariq Fatemi.
Mous exchanged
The two countries have signed a memorandum of understanding between the oil company of the State of Azerbaijan Republic (SOCAR) and the organization of border work (FWO) and Pakistan State Oil Company Limited for collaboration in the Machike- Thallian-Tarujabba White Oil Pipeline.
The documents were exchanged by the president of Socar Rovshan Najaf and the director general of FWO Abdul Sami.
Meanwhile, the president of Socar Rovshan Najaf and MD PRL Zahid Mir exchanged the documents of a memorandum of understanding between Socar and Pakistan Refinery Limited (PRL) and Pakistan State Oil Company Limited.
The two countries have also signed a modification agreement n ° 1 to the executive contract for the sale and purchase of LNG cargoes linked to a Master LNG sales and purchase agreement. The president of Socar, Rovshan Najaf, and CEO Pakistan LNG Limited, Masood Nabi, exchanged the pre-signed documents.
The president of Socar, Rovshan Najaf, and the CEO PSO Syed Muhammad Taha exchanged documents from a memorandum of understanding between PSO and Socar Trading SA and accused of receipt for term sale and the purchase agreement for Petroleum products by and between PSO and Socar trade.
Dar and his counterpart Azeri Jeyhun Bayramov exchanged the documents of a memorandum of understanding between Nakhchivan, an autonomous city of Nakhchian of Azerbaijan and Lahore to promote cooperation in the fields of culture, tourism, urban development, of Education, economy and science and technology.
Discussions have also focused on expanding trade and investment, improving cooperation in the energy sector, synergy of efforts to manage climate change, deepening of defense collaboration and the promotion of cultural exchanges.
As part of his commitments, Prime Minister Shehbaz and Azerbaijani leaders will also contact the Pakistan-Azerbaijan business forum today.
The forum will bring together business leaders from the two countries to explore the coverage and business and investment opportunities, emphasizing business collaboration (B2B).
Pakistan and Azerbaijan share a long -standing bond of fraternity, supported by shared values and common aspirations. This visit underlines the commitment of the two nations to deepen their bilateral links, to improve economic cooperation and to promote regional collaboration.
