In a momentous decision, Pakistan and Azerbaijan have resolved to significantly broaden the horizon of their bilateral investment to an impressive 2 billion dollars, targeting mutually beneficial projects that hold promise for both nations.
This strategic agreement was forged during discussions held on Monday at the magnificent Presidential Palace in Baku, where Prime Minister Shehbaz Sharif and Azerbaijan’s President Ilham Aliyev convened to chart a collaborative path forward.
Addressing the media in a joint press conference, Prime Minister Shehbaz Sharif emphasised the unified stance of all political factions in Pakistan, highlighting their collective commitment to deepening the longstanding friendship with Azerbaijan. He stressed the importance of translating the warm and cordial relations between the two countries into tangible economic cooperation.
In a show of optimism, the Prime Minister expressed confidence in the potential of the Memorandums of Understanding signed on this occasion, as well as those agreements slated for April, to greatly boost the sincere collaborative efforts, promising fruitful outcomes in time to come.
Further underlining the strategic partnership, he noted that it is an opportune moment for Pakistan and Azerbaijan to elevate their defence ties significantly, with the joint manufacturing initiative of defence equipment poised to yield profound implications.
Highlighting a pivotal proposal, the Prime Minister lauded the Azerbaijani President’s vision for an international infrastructure corridor, pointing out the strategic benefits of incorporating Pakistan’s Gwadar Port for trading purposes. Such initiatives, he remarked, would bring about transformative and far-reaching positive changes across the region, affirming Pakistan’s full support for this innovative vision.
In conclusion, Prime Minister Shehbaz Sharif extended heartfelt gratitude to President Ilham Aliyev for the generous hospitality shown to his delegation during their visit to Azerbaijan. He reiterated Pakistan’s dedication to reinforcing the bonds of camaraderie and brotherhood through concerted cooperation.
Shehbaz Sharif said Pakistan always supported Azerbaijan on Karabakh issue and Azerbaijan extended its support on the issue of Kashmir without any political conditions.
Turning to Palestine issue, the prime minister underscored the importance of the permanent ceasefire saying that people of Gaza now need permanent ceasefire. He said today is the time that pause in Gaza should be converted into permanent ceasefire and dream of two-state solution to area should be materialized.
Shehbaz Sharif also extended his gratitude to the Azerbaijan President for dispatching delegation to Islamabad for further beautification of the federal capital.
In his remarks, President of Azerbaijan Ilham Aliyev said the two sides discussed important bilateral, regional and international issues and emphasized the close partnership between Pakistan and Azerbaijan. He said we reconfirmed strategic importance of our cooperation between the government and people to people level.
The President of Azerbaijan said we would continue to support each other on all international issues and sovereignty and territorial integrity of our countries.
He said the two sides also discussed trade and economic sectors and also jointly expressed regret that our trade turnover is only several million dollars and stressed the need to increase it as we have potential to do it.
Ilham Aliyev said we discussed to finalize all the agreements regarding international connectivity, energy, economy and mining sectors within one month. He said today we signed ten MoUs which will create a good framework for future cooperation.
The Azerbaijan President said during the discussion, we witnessed an increase in our trade turnover.
He said we also discussed cooperation in the Defence area particularly in defence industry. He said Azerbaijan already acquires defence equipment from Pakistan and we are satisfied with the quality of this equipment and we will continue it in future.
He said Pakistan and Azerbaijan also discussed opportunities of joint manufacturing of defence industry products. He said the two sides also discussed projects related to connectivity and transportation.
The Azerbaijan President praised Prime Minister Shehbaz Sharif for his vision and reforms which he is implementing in Pakistan saying that it yielded important results in areas of economy and political stability.