Pakistan and Azerbaijan announced on Thursday their commitment to significantly boost bilateral investments, aiming for up to US$2 billion in mutually beneficial projects.
Following the signing of various agreements and MoUs across diverse sectors, Prime Minister Muhammad Shehbaz Sharif, in a joint press stakeout with Azerbaijani President Ilham Aliyev, highlighted their discussions. Sharif expressed optimism about finalizing agreements worth $2 billion during his upcoming visit to Azerbaijan in November, emphasizing the potential to further increase this figure in the future.
He underscored the need to elevate bilateral trade and cooperation, noting that current investment levels, which are less than $100 million, do not adequately reflect the strong bonds of friendship and cooperation between the two nations. Sharif also praised Azerbaijan’s preparations for hosting COP29 in Baku, anticipating positive outcomes for developing countries like Pakistan on climate change issues.
President Aliyev echoed these sentiments, emphasizing the deep-rooted brotherhood between Azerbaijan and Pakistan and their mutual support on international matters, particularly regarding the Kashmir issue. He reaffirmed Azerbaijan’s commitment to standing by Pakistan and Kashmiris in their quest for self-determination, citing their shared adherence to international law and justice.
Both leaders discussed potential projects in energy, connectivity, infrastructure, and defense industries, aiming to forge a robust economic and trade partnership in addition to their longstanding political ties.
