Prime Minister Shehbaz Sharif said on Monday that Azerbaijan President Ilham Aliyev would visit Pakistan in April to formalize investment projects worth $ 2 billion.
“This will be a mutually advantageous event for both countries,” said the Prime Minister-there is on a two-day official visit to the Central Asian Land-Mens. (Azpromo).
Earlier in the day, the two countries signed more agreements to increase bilateral cooperation in different areas, including trade, energy, tourism, education and others, which further strengthens the partnership between the two countries.
The Prime Minister and the Azeri President witnessed the documents’ exchange ceremony after their bilateral meeting and lecture at the delegation level, which includes collaboration in several sectors.
PM Shehbaz said both countries have agreed on a “very clear, way forward”. “We want to improve our bilateral trade, which is only $ 40 million and hardly reflects the strength of our relationship, to $ 2 billion as soon as we can,” he promised.
He was referring to an example, he said, the Azerbaijan President “Very generously exempted the” import duty on Basmati -Ris from Pakistan and “That’s how we can move on.”
Similarly, he asked the Minister of Commerce and the Deputy Prime Minister, who was present on the occasion, to focus on these areas “where we can lower these tariffs so that our imports and exports can really improve”.
Giving details of the bilateral trade said Premier that Liquified Natural Gas (LNG) was another commercial item that could be added to the trading pool.
“JF-17 fighter jets are another tall ticket article that Pakistan and Azerbaijan are pursuing very actively,” he said, expressing optimism that if they really put the action together, “we can achieve $ 2 billion worth trade between two countries.”
“That’s how the water meets the Arab Sea with water in the Caspian Sea … This rigor and this enormous energy and synergy will really transform our great connections into an unprecedented trade and investment portfolios and obligations,” he added.
By appreciating the work achieved by both teams, PM Shehbaz expressed confidence that minor problems would be resolved within a month.
Shehbaz further emphasized close and improved collaboration between the two business communities to explore additional opportunities for trade and investment and quoted agriculture, industry and the sectors with enormous potential for growth.
The prime minister also announced the constitution of a permanent agency in Pakistan, which consisted of both sides to work in this regard with the help of AI and real -time information, which ensures that an effective mechanism would be introduced. The teams had to find out a robust mechanism that could help them alone in a big way, he added.
The premiere believed that the north-south corridor would be an effective, reliable and cost-effective means of transport for connection that would help achieve their goals.
The Gwadar port would play a very central role, he said, assuring to work close to this project.
There were enormous options on both sides that needed to be fully explored, the prime minister emphasized.
President Ilham Aliyev said in his remarks that such an initiative was a minor but an important part of their fraternity.
Previously, the Prime Minister received an honorary guard of Azerbaijan’s armed forces at Zagulba Presidential Palace, where Memorandums of Understanding (Mous) was signed.
The premiere, which marks his second visit to the country since accession in March 2024, has been accompanied by a high -level ministerial delegation.
The delegation includes Deputy Prime Minister and Foreign Minister Ishaq Dar, Minister of Trade Jam Kamal Khan, Investment Minister and Privatization Abdul Aleem Khan, Minister of Overseas Pakistanis and Development of Human Resources Chaudhry Salik Hussain, Information Minister Ataullah Tarar and special assistant to Prime Minister Syed Tariq Fatemi.
Mous exchanged
The two countries signed a Mou between the State Oil Company of Azerbaijan Republic (Socar) and Pakistan’s Frontier Works Organization (FWO) and Pakistan State Oil Company Limited to collaborate in Machike-Thallian-Tarujabba White Oil Pipeline Project.
The documents were exchanged by the president of Socar Rovshan Najaf and Director General of Fwo Abdul Sami.
Meanwhile, President of Socar Rovshan Najaf and MD Prl Zahid Mir exchanged the documents from a mou between Azerbaijan’s Socar and Pakistan Refinery Limited (PRL) and Pakistan State Oil Company Limited.
Both countries also signed a change agreement # 1 for a framework agreement for the sale and purchase of LNG -Lasts related to Master LNG Sales and Purchase Agreement. Socar President Rovshan Najaf and CEO Pakistan LNG Limited Masood Nabi exchanged the foreskin documents.
Socar -President Rovshan Najaf and CEO PSO SYED MUHAMMAD TAHA exchanged documents from a Mou between PSO and Socar -Trade SA and Recognition for Sales and Purchase Agreement for Petroleum Products of and between PSO and Socar trade.
Dar and Hans Azeri -Collection Jeyhun Bayramov exchanged the documents from a mou between Nakhchivan, a city in Nakhchivan Autonomous Republic of Azerbaijan and Lahore to promote collaboration in cultural areas, tourism, urban development, education, economy and science and technology.
Discussions also focused on expanding trade and investments, improving cooperation in the energy sector, synergizing efforts to deal with climate change, elaborating on defense cooperation and promoting cultural exchanges.
As part of his engagements, Prime Minister Shehbaz and the Azerbaijanian leadership will also address Pakistan-Azerbaijan Business Forum today.
The forum will bring together business leaders from both countries to explore opportunities for joint ventures and trade and investment opportunities and emphasize collaboration on business-to-business (B2B).
Pakistan and Azerbaijan share a prolonged band of fraternity, supported by shared values and ordinary hopes. This visit emphasizes both nations’ obligation to elaborate on their bilateral ties, improve economic cooperation and promote regional cooperation.
