BAKU: Prime Minister Shehbaz Sharif said on Monday that Azerbaijan President Ilham Aliyev would visit Pakistan in April to formalise agreements for investment projects worth $2 billion.
The prime minister and Azerbaijan’s president, while finalising the matters on Baku’s $2 billion investment in Pakistan, agreed to expand bilateral trade volume and promote joint defence production. This was agreed during a meeting between the two leaders in Baku. On the occasion, the two leaders also witnessed the signing of an amendment agreement for the Sale and Purchase of LNG cargoes related to Master LNG Sale and Purchase Agreement.
The two sides also signed an agreement between the State Oil Company of Azerbaijan Republic (SOCAR) and Pakistan’s Frontier Works Organisation (FWO) and Pakistan State Oil Company Limited for collaboration in Machike-Thallian-Tarujabba White Oil Pipeline Project.
Later, Shehbaz, in a joint press conference with Aliyev, assured that he himself would oversee the investment and mutual cooperation projects in the sectors where Azerbaijan was investing, ensuring that there would be no disruption in the pace and effectiveness of these efforts.
“I am happy to share that we also had extensive discussions regarding finalising the portfolio of Azerbaijan investments worth US$2 billion in mutually beneficial projects in Pakistan and I look forward to my dear brother, President Aliyev visiting Pakistan in April this year to sign historic agreements involving this investment,” the prime minister said in a social media post on X.
Addressing the joint press stakeout, the prime minister said $2 billion investment in Pakistan announced by the President Aliyev will bring dividends to both countries.
“This will be the first quantum jump in our trade and investment relations and will be a huge reflection of our fraternal ties,” the prime minister said, adding, “Our business, trade, and investment ties were not reflecting the true strength of our relations but today we have achieved that target and in a month’s time we will celebrate this great decision into action.”
President Aliyev regretted that the bilateral trade turnover was only scores of million dollars that was needed to be increased.
“I think we have the way how to do it,” he said, adding, “We received concrete projects from Pakistan, and Azerbaijani representatives are evaluating them, today we put ambitious and realistic targets to finalise all the discussions within one month and by the beginning of April, the documents will be prepared for signing.” The Azerbaijan president emphasised that these projects covered infrastructure development areas as well as energy, economic, mining and others.
He said during his meeting with Shehbaz, they discussed important issues, and reaffirmed resolve to continue to support each other on all issues of international relations. He said they also discussed numerous issues of current international development and cooperation in defence area including defence industry.
“Azerbaijan has already acquired defence equipment from Pakistan and we are satisfied with the quality of this equipment and we will continue to do to it.” At the same time, he said, they also discussed opportunity of joint manufacturing in defence industrial items, which will be another important sector of bilateral cooperation.
As regards connectivity and transportation sectors, he said that the people-to-people contacts had also been developed successfully between the two countries. “With regular airlines connection, the number will grow and we will see more regular interactions between the two countries.”
Praising PM Shehbaz’s vision and reforms which he implemented in Pakistan, he said these steps brought important results in areas of economy and political stability. “All is due to your hard work and work of your team, and, we, as your brother and friend, really happy on the achievements under your leadership,” he added.
The prime minister extended his gratitude to Aliyev for dispatching his delegation to Islamabad to add further beauty and attraction to Islamabad.
He also thanked him for his country’s continued support for the cause of Kashmir without any political conditions. “We deeply appreciate this and I hope that resolutions passed by the United Nations General Assembly and Security Council will be materialised soon through our collective efforts,” he added.
Pakistan, Azerbaijan sign multiple accords for cooperation in energy, education and environment.
Meanwhile, Pakistan and Azerbaijan signed multiple accords to boost bilateral cooperation in different fields including trade, energy, education, agriculture and environmental protection, besides others. The pre-signed documents were exchanged during the two-day official visit of the prime minister.
Shehbaz and Aliyev witnessed the ceremony of exchange of six documents, following their bilateral meeting and the delegation-level talks encompassing cooperation in multiple sectors. The two countries signed an MoU between the State Oil Company of Azerbaijan Republic (SOCAR) and Pakistan’s Frontier Works Organisation (FWO) and Pakistan State Oil Company Limited for collaboration in Machike-Thallian-Tarujabba White Oil Pipeline Project.
The documents were exchanged by Socar President Rovshan Najaf and FWO Director General Abdul Sami.
Rovshan Najaf and PRL MD Zahid Mir exchanged the documents of an MoU between Azerbaijan’s Socar and Pakistan Refinery Limited (PRL) and Pakistan State Oil Company Limited. Pakistan and Azerbaijan also signed an amendment agreement to Framework Agreement for the Sale and Purchase of LNG cargoes related to Master LNG Sale and Purchase Agreement. The Socar president and Pakistan LNG Limited CEO Masood Nabi exchanged the pre-signed documents.
The Socar president and PSO CEO Syed Muhammad Taha exchanged documents of an MoU between PSO and Socar Trading SA and Acknowledgment for Term Sale and Purchase Agreement for Petroleum Products by and between PSO and Socar Trading.
Deputy Prime Minister and Foreign Minister Ishaq Dar and Foreign Minister of Azerbaijan Jeyhun Bayramov exchanged the documents of an MoU between Nakhchivan, a city of Nakhchivan Autonomous Republic of Azerbaijan and Lahore to promote cooperation in the fields of culture, tourism, urban development, education, economy, and science and technology.
During the prime minister’s visit, the respective institutions of Pakistan and Azerbaijan also signed agreements and MoUs to enhance cooperation in the fields of customs, agriculture, scientific research, and environmental protection.
Two sides signed three agreements on “Initial Electronic Information Exchange between Customs”, “Cooperation in Agriculture” and “Plant Quarantine and Protection.” The respective institutions also signed three MoUs including on “Scientific Research and Cooperation” and “Technical Vocational Education and Training.”
Besides a protocol of intent was also signed for cooperation in environmental protection between the institutions on both sides. Earlier, upon arrival at the Zugulba Palace, PM Shehbaz was warmly received by President Aliyev. A smartly turned out contingent of Azerbaijan armed forces presented a guard of honour to the prime minister.
Both the leaders had tête-à-tête meeting and reiterated the commitment to further strengthen the bilateral cooperation in diverse fields. Both leaders reaffirmed the strategic partnership between the two countries and expressed satisfaction on the joint efforts to further strengthen the close and fraternal ties.
This was followed by delegation level talks with the attendance of key ministers and senior officials of the two sides. Both sides expressed a strong desire to further deepen cooperation across the entire spectrum of bilateral relations.
Both sides expressed their agreement on further enhancing bilateral trade and investment with a view to explore joint investment projects in the areas of energy, infrastructure and connectivity. They noted that the present volume of bilateral trade is not commensurate with the true potential of excellent brotherly political ties and therefore they agreed to enhance bilateral trade.
The two leaders expressed satisfaction at the active cooperation between the two countries at multilateral fora, especially the United Nations, Organisation of Islamic Cooperation (OIC) and Economic Cooperation Organisation (ECO).
The prime minister reiterated Pakistan’s unequivocal support to Azerbaijan on Karabakh and noted with satisfaction that under the bold leadership of President Aliyev, Azerbaijan has liberated Karabakh, which has always been the rightful territory of Azerbaijan and endorsed by several UNSC Resolutions and international law.
Separately, addressing Pakistan-Azerbaijan Business Forum in Baku along with President Aliyev, the prime minister underscored the need to enhance the bilateral trade between Pakistan and Azerbaijan as their current trade of $40 million hardly reflected the strong relationship between the two brotherly countries.
He said that during their bilateral meetings, they achieved another milestone and discussed all subjects under the sun, agreeing on very clear cut way forward.
They also agreed to enhance their bilateral trade to meet $2 billion trade and investment target between the two countries and appreciated Azerbaijan President for generously removing the import duty on Basmati rice from Pakistan.
The prime minister, in a live telecast of the event on national TV channel, said during their meetings, both sides also focused on different areas to address tariff issues so the bilateral import and export between the two countries could increase.
He mentioned LNG as another trading commodity which could be added in the trading pool, besides the defence equipment and cooperation. “If we put our acts together, we can achieve $2 billion trade volume between the two countries,” he stressed.
The prime minister announced constitution of a permanent bureau in Pakistan, comprising both sides to work in this regard with the assistance of AI and real time information, assuring that effective mechanism would be put in place. The teams should work out a robust mechanism, which alone could help them in a big way, he added.
He said that the defence cooperation between the two countries had already been there and they further discussed to strengthen it.
Shehbaz opined that the North-South Corridor would be an efficient, reliable and cost- effective transportation means of connectivity initiative which would help achieve their targets.
The Gwadar Port would play a very pivotal role as a game-changer, he said and assured to work closely on this project.
He said Azerbaijan Chamber of Commerce had established its office in Islamabad and also its offshoots in Pakistan, adding that Pakistan would also establish such like office in Baku which would be helpful in collecting information about the potential of trade and investment.
There were enormous opportunities on both sides which should be fully explored, he emphasised. The prime minister also thanked President Aliyev for his great love and fondness for the people of Pakistan and expressed his gratitude for sending experts teams to Islamabad, who had been doing a wonderful job in improving the landscaping there and adding beauty to Pakistan’s capital.
President Ilham Aliyev, in his remarks, said that such an initiative was though a smaller one, but an important part of their brotherhood. Meanwhile, the prime minister visited the recently built “Victory Monument” to honour the heroes and martyrs of the 44-day war for the independence of Nagorno Karabakh.
The victory in the war was historic for restoring the regional integrity of Azerbaijan. The prime minister laid a floral wreath at the monument to pay tribute to the national heroes of Azerbaijan for their sacrifices.
These heroes bravely defended their nation during the 2020 conflict of Nagorno Karabakh. While penning his impressions, he said, “This magnificent Monument of Victory was a symbol of great bravery, courage, and national honour and was evident of the unwavering commitment and determination of Azerbaijan.”
He appreciated the Azerbaijani nation’s demonstration of extraordinary courage and national pride during the 44-day war. He stressed that Pakistan would always stand with its brotherly country Azerbaijan with complete solidarity.
“Pakistan appreciates the efforts of Azerbaijan for peace, stability, and prosperity in the region,” he added. Meanwhile, PM Shehbaz would officially visit Uzbekistan on February 25 and 26 at the invitation of Uzbekistan President Shavkat Mirziyoyev.
The prime minister would be accompanied by a high-level delegation, including Ishaq Dar and other members of his cabinet, the Foreign Office spokesperson said in a press release. “The Prime Minister of Pakistan and the President of Uzbekistan, during the bilateral meeting would discuss all areas of bilateral cooperation including connectivity, economic, trade, investment, energy, defence and security, regional stability, and education. The leaders would also exchange views on regional and international issues of mutual interest. A number of bilateral agreements/MoUs will also be signed,” it was added.
The prime minister would also address the Pakistan-Uzbekistan Business Forum. Leading businessmen from both sides would participate in the Business Forum and hold B2B meetings to further enhance bilateral trade.
Pakistan and Uzbekistan are bound together by common bonds of history, culture, religion, and their aspirations for peace and development, the spokesperson said.
The prime minister’s visit underscored Pakistan’s commitment to further strengthen its ties with Uzbekistan, through fostering greater economic collaboration and exploring new avenues of partnership, as part of the strategic vision for regional integration and economic prosperity, it was further added.
Meanwhile, the prime minister extended his heartfelt congratulations to Friedrich Merz and Germany’s conservative CDU/ CSU bloc on their “impressive win” in Germany’s recent election. “I look forward to working with the new government to further strengthen the Pakistan-Germany partnership,” the prime minister wrote on his official X handle.
