Islamabad, July 12, 2024, The Europe Today: Azerbaijan President Ilham Aliyev announced on Thursday that Azerbaijan and Pakistan plan to invest $2 billion in various fields of mutual interest. This announcement came as the two countries signed 15 agreements and Memorandums of Understanding (MoUs) to enhance cooperation in diverse areas.
During a joint press conference with Prime Minister Shehbaz Sharif, President Aliyev emphasized the significance of these investments. Prime Minister Sharif added that teams from both countries would continue discussions on the $2 billion investment on Friday, expressing optimism about signing an agreement during his upcoming visit to Azerbaijan.
“Pakistan and Azerbaijan have immense investment potential worth billions of dollars in the years to come,” said Prime Minister Sharif, highlighting the commitment to boosting bilateral trade.
President Aliyev received a warm welcome upon his arrival in Pakistan for a two-day official visit. His aircraft was escorted by Pakistan Air Force fighter jets as it entered Pakistani airspace. Prime Minister Sharif hosted a formal reception in Islamabad, where he greeted President Aliyev at the Prime Minister’s House. The leaders held a one-on-one meeting to discuss bilateral issues.
Prime Minister Sharif reiterated Pakistan’s unwavering support for Azerbaijan’s stance on Nagorno-Karabakh and acknowledged Azerbaijan’s support for the Kashmir cause. He extended his best wishes for the upcoming COP29 summit in Baku, emphasizing its importance for developing countries like Pakistan.
“We are confident that under your leadership, COP29 will address climate change issues affecting developing countries,” Sharif said.
President Aliyev expressed his country’s eagerness to strengthen economic and trade partnerships with Pakistan, noting satisfaction with the current political ties. He highlighted the identification of nine initial priority areas for preferential trade and the discussion of various projects in energy infrastructure and the defense industry.
“We will engage in practical cooperation in areas like trade, energy, investment, and transportation corridors,” Aliyev stated.
Reflecting on Prime Minister Sharif’s visit to Azerbaijan last year, President Aliyev described it as a breakthrough, reinforcing the mutual support and cooperation between the two nations.
Earlier in the day, Pakistan and Azerbaijan signed 15 agreements and MoUs during a ceremony in Islamabad, witnessed by both leaders. These agreements cover a wide range of fields, including consular affairs, transit trade, preferential trade, privatization of state property, law and justice, mineral resources, cultural exchange programs, information technology, telecommunications, television production, scientific cooperation, tourism, air services, twin city establishment, small and medium enterprises, literature, and science.
Diplomatic sources revealed that Prime Minister Sharif had refreshed the invitation to President Aliyev during a recent meeting at the Shanghai Cooperation Organisation (SCO) summit in Astana. President Aliyev, a national hero for his role in retaking Nagorno-Karabakh, was re-elected with over 92% of the vote in February. This marks his second visit to Pakistan in seven years, his previous visit being during Nawaz Sharif’s tenure as Prime Minister.
