Pakistan and Azerbaijan have discussed to enhance investments


ISLAMABAD: Pakistan and Azerbaijan have discussed to enhance investments worth two billion dollars in areas of mutually beneficial projects.

Addressing a joint press stake-out in Islamabad this evening, Prime Minister Shehbaz Sharif said teams of both the countries will further exchange views on this matter tomorrow and hopefully both the countries will be ready to ink an agreement during his upcoming visit to Azerbaijan.

He said Pakistan and Azerbaijan have immense investment potential worth billions of dollars in years to come.  He said the two countries have agreed to enhance bilateral trade as well.

Shehbaz Sharif said Pakistan has always supported Azerbaijan’s stand on Nagorno-Karabakh, while the latter has extended similar support for the cause of Kashmiris, who have paid huge sacrifices to achieve their right of self-determination as per UN Security Council resolutions.                  

The Prime Minister also conveyed his best wishes to the Azerbaijan President and its people as the country is prepared to host the COP29 in Baku. It will be significant international event for all developing countries, including Pakistan.

He said we are quite confident that under your leadership COP29 will deliver on the Climate Change related issues of developing countries like Pakistan.     

Speaking on the occasion, the Azeri President said his country looks forward to build a strong partnership with Pakistan at economic and trade level.  

Expressing satisfaction over the existing level of political ties between the two countries, he said we will increase our bilateral trade volume.

The Azeri President said we have identified nine initial priority areas for preferential trade.    

He said we have discussed several projects in areas of energy infrastructure and defence industry.

Referring to Shehbaz Sharif’s last year visit to Azerbaijan, lham Aliyev said the visit was a breakthrough and the two countries have always supported and cooperated with each other.

He said we now engage in practical elements of cooperation like trade, energy, investment and corridors of transportation.

Earlier on Thursday, An official welcome ceremony was held in Islamabad for Ilham Aliyev, President of the Republic of Azerbaijan, who is on a state visit to the Islamic Republic of Pakistan. A guard of honor was arranged for the Azerbaijani President in the square decorated with the national flags of the two countries. President of the Republic of Azerbaijan Ilham Aliyev was welcomed by Pakistan’s Prime Minister Muhammad Shehbaz Sharif. First, the President of Azerbaijan and the Pakistani Prime Minister posed for official photos. The national anthems of the Republic of Azerbaijan and the Islamic Republic of Pakistan were played. The chief of the guard of honor reported to the Azerbaijani President. The President of Azerbaijan reviewed the guard of honor. The Pakistani delegation was introduced to President Ilham Aliyev, while members of the Azerbaijani delegation were introduced to Prime Minister Muhammad Shehbaz Sharif.