President of Azerbaijan Ilham Aliyev visited Islamabad on July 11-12.
A number of documents were signed in the course of the visit. Among them were the MoU on cooperation on consular affairs, the preferential trade agreement between Azerbaijan and Pakistan, the MoU on cooperation in the field of privatization of state property, the document on cooperation in the field of mineral resources and geology, and the Cultural Exchange Program. Too, the five year agreement on cooperation in the field of information and communication technologies, and the MoU on cooperation between the Azerbaijan Television and Radio Broadcasting CJSC and the Pakistan Television Corporation LTD were signed.
Prime Minister Shehbaz Sharif said that both countries had expressed their determination to develop cooperation in different areas, including trade, and discussed joint investment projects worth $2 bln. The trade volume between Pakistan and Azerbaijan totals $100 mln which is planned to be further increased. According to official sources of Pakistan, Azerbaijan plans to invest into the mineral and raw materials sector, including the oil and gas one. Azerbaijan is considering investments in the LNG sector, the Petroleum Minister of Pakistan said.
The Prime Minister of Pakistan also noted that the technical group would come to Pakistan from Baku to design Islamabad in Baku style.
During his speech, President of Azerbaijan Ilham Aliyev emphasized the development of trade relations and wished Islamabad to become the world’s beautiful city.
At the opening of the trilateral Pakistan-Türkiye-Azerbaijan summit, which took place last week on the sidelines of the Shanghai Cooperation Organization, Prime Minister Shehbaz Sharif discussed trilateral institutional mechanisms for strengthening economy and trade between Pakistan, Türkiye and Azerbaijan.
He highlighted, saying “Pakistan values the brotherly relations with the two countries, based on deep-rooted cultural, historical and religious ties, as well as on mutual respect and support on issues of principle”.
