Pakistan, Azerbaijan to ink $2bn investment deals in April: PM – World

Prime Minister Shehbaz Sharif said on Monday Pakistan and Azerbaijan would sign investment deals worth $2 billion in April.

The announcement came as the premier held a joint press conference 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.

Addressing the joint media briefing, 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.

During the visit, PM Shehbaz will hold a bilateral meeting with Aliyev followed by 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.