Pakistan and Azerbaijan agree to enhance bilateral investment to $2bn

Pakistan and Azerbaijan have decided to enhance bilateral investment to $2 billion, focusing on projects that benefit both nations.

This agreement was reached during discussions between Prime Minister Shehbaz Sharif and Azerbaijani President Ilham Aliyev at the Presidential Palace in Baku on Monday.

At a joint press conference, Prime Minister Shehbaz Sharif emphasized that all political parties in Pakistan are committed to strengthening ties with Azerbaijan. He stressed the need to expand the already friendly relations between the two countries to include economic cooperation.

The prime minister expressed optimism that the Memorandums of Understanding (MOUs) signed during the visit, along with additional agreements expected in April, will significantly contribute to future economic growth and shared success.

He also underscored the importance of strengthening defence ties, highlighting the commitment to joint manufacturing of defence equipment, which he believes will have a lasting impact.

Additionally, Shehbaz Sharif supported Azerbaijan’s proposal for an international infrastructure corridor, pointing out that Pakistan’s Gwadar Port could play a crucial role in facilitating trade and boosting the regional economy.