Pakistan and Azerbaijan Aim to Boost Bilateral Investment to $2 Billion

Baku: Pakistan and Azerbaijan have agreed to expand bilateral investments up to $2 billion, focusing on mutually beneficial projects in various sectors. The decision was made during a high-level meeting between Pakistan’s Prime Minister Shehbaz Sharif and Azerbaijan’s President Ilham Aliyev at the Presidential Palace in Baku on Monday.

Following the meeting, Prime Minister Shehbaz Sharif, while addressing a joint press conference, emphasized that all political parties in Pakistan are united in their commitment to strengthening Pakistan-Azerbaijan relations. He stressed the need to expand the scope of economic cooperation, highlighting the importance of fostering stronger trade, investment, and defense partnerships.

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Defense and Economic Cooperation

Prime Minister Sharif expressed optimism about the Memorandums of Understanding (MoUs) signed during the visit, stating that these agreements, along with those to be signed in April, would bring substantial economic benefits. He also underscored the need to elevate Pakistan-Azerbaijan defense cooperation, including joint manufacturing of defense equipment, which he said would have far-reaching impacts.

Discussing regional connectivity, Prime Minister Sharif welcomed President Aliyev’s proposal for an international infrastructure corridor, suggesting that Pakistan’s Gwadar Port could serve as a key trade hub. He described this initiative as transformative, benefiting the broader region.

Support on Key Global Issues

Prime Minister Shehbaz Sharif reaffirmed Pakistan’s unwavering support for Azerbaijan on the Karabakh issue and appreciated Azerbaijan’s consistent backing for Pakistan on the Kashmir dispute. Addressing the Palestine crisis, he called for a permanent ceasefire in Gaza, emphasizing the urgent need to implement the two-state solution.

During the visit, Prime Minister Sharif also thanked President Aliyev for Azerbaijan’s commitment to assisting in the beautification of Islamabad, acknowledging the warm hospitality extended to the Pakistani delegation.

President Ilham Aliyev, in his remarks, reiterated the strategic importance of Pakistan-Azerbaijan relations, noting that both nations would continue to support each other on international platforms. He emphasized the need to increase trade volumes, which currently stand at only a few million dollars, despite the significant potential for economic collaboration.

The two leaders also agreed to finalize agreements in connectivity, energy, economy, and mining within a month, with ten MoUs already signed to lay the groundwork for future cooperation.

Boosting Defense Industry Collaboration

Highlighting defense sector ties, President Aliyev confirmed Azerbaijan’s satisfaction with the quality of defense equipment acquired from Pakistan and expressed a commitment to expanding cooperation in the defense industry, including joint production.

Both sides also discussed enhancing connectivity and transportation projects, signaling a new phase of collaboration in trade and infrastructure development.

The meeting concluded with a mutual commitment to deepening Pakistan-Azerbaijan ties, reinforcing their partnership across multiple domains.