In PM’s Baku visit, Pakistan and Azerbaijan vow boosting bilateral investment to $2bn – World

Prime Minister Shehbaz Sharif said on Monday Pakistan and Azerbaijan would sign deals in April, boosting bilateral investments to $2 billion, state-run Radio Pakistan reported.

The announcement came as the premier met with Azerbaijan’s President Ilham Aliyev in Baku, where he had arrived yesterday on a two-day official visit.

Pakistan and Azerbaijan enjoy a long-standing bond of brotherhood, underpinned by shared values and common aspirations. PM Shehbaz’s visit underscores the commitment of both nations to deepening bilateral ties, enhancing economic cooperation and fostering regional collaboration.

“Pakistan and Azerbaijan have decided to enhance the scope of bilateral investment up to $2bn in areas of mutual beneficial projects,” the report stated, adding that the decision was made during their talks between the two leaders.

Addressing a joint press conference with President Aliyev later, PM Shehbaz said: “I am extremely grateful to you when you announced that Azerbaijan will invest $2bn dollars in Pakistan in ventures that are mutually beneficial, which will bring dividends to both countries.”

Noting that a month’s deadline had been given to “both sides to finalise all arrangements”, the premier also confirmed that a delegation from Azerbaijan would be visiting Pakistan in April to sign those deals.

“In the month of April, God-willing, once everything is discussed and decided, I will be deeply honoured and extremely happy to receive you in Islamabad to ink these agreements,” he said.

The leader’s press conference came after the two held a bilateral meeting earlier today,

PM Shehbaz was received by President Aliyev at the Presidential Palace in Baku and was presented with a guard of honour, while the national anthems of both countries were played as well, Radio Pakistan reported.

During his visit, PM Shehbaz will also participate in delegation-level talks to discuss areas of mutual interest and cooperation.

The discussions will focus on strengthening bilateral relations, expanding trade and investment, enhancing cooperation in the energy sector, synergising efforts to deal with climate change, deepening defence collaboration, and fostering cultural exchanges.

The prime minister and the Azerbaijan president will also witness a ceremony to sign Memorandums of Understanding (MoUs) and agreements aimed at strengthening bilateral relations.

As part of his engagements, PM Shehbaz and the Azerbaijani leadership will also address the Pakistan-Azerbaijan Business Forum today to boost the trade and investment relationship between the two countries.

He will also pay tribute at the Victory Monument dedicated to the heroes and martyrs of the 44-day Nagorno-Karabakh war.

President Aliyev will also host a dinner reception in honour of the prime minister and his delegation.

The premier is accompanied by Deputy PM and Foreign Minister Ishaq Dar, Minister for Commerce Jam Kamal Khan and other officials.

After landing in Baku last night, PM Shehbaz said he was looking forward to productive discussions with Azerbaijan’s leadership for further strengthening deep-rooted bilateral relations.

“Landed in the beautiful city of Baku, where the past and future converge in a vibrant embrace. The city looks even more enchanting under a blanket of snow!” he said in a post on X.

“Looking forward to productive discussions for further strengthening the deep-rooted bonds between Pakistan and Azerbaijan. We also seek to enhance our trade and investment ties,” he added.