Pakistan and Azerbaijan have agreed to increase the level of bilateral investment to $2 billion in areas of mutually beneficial projects. Pakistan and Azerbaijan have signed fifteen memorandums of understanding to promote bilateral relations. The leaders of the two countries participated in the signing ceremony of the agreements on commerce, tourism, technology, and culture. After witnessing the signing of memorandums of understanding (MOUs) between the two countries, Prime Minister Shehbaz Sharif said in a joint press conference with the President of Azerbaijan Ilham Aliyev that we have the initial figures for investment of 2 billion dollars. He hoped that when he visited Azerbaijan in November this year, the two sides would be ready to sign $2 billion worth of agreements to start development on both sides. There is a lot of potential to increase this number in the coming years. He said that in talks we have agreed to expand our bilateral trade besides discussing the areas of cooperation and joint investment. Less than 100 million dollars does not reflect the strength of our goodwill and friendship in the field of joint investment. Expressing satisfaction over the bilateral meeting, the Prime Minister said that on mutual trust and confidence, the talks took place where both sides expressed their unwavering commitment to reach and move forward in the fields of trade and investment. He emphasized Pakistan supports Azerbaijan’s approach to the Nagorno-Karabakh conflict, while Azerbaijan has always supported the cause of millions of Kashmiris. Prime Minister hoped that the climate summit COP29 hosted by Azerbaijan in Baku would be an important international event for all developing countries plus Pakistan. We believe that COP29 will address the climate change issues of developing countries like Pakistan. President Aliyev said that goodwill between the two countries reflects deep feelings between the people on both sides. This relationship is a great asset, we are brothers, we are friends, and we support each other on every international issue. International law is the basis of our support on the Jammu and Kashmir issue. It is our commitment to respect the rights of Kashmiris. Both sides are analyzing plans for an initial investment of 2 billion dollars. During our talks, we reviewed several projects in the fields of energy, communications, infrastructure, and defense. We not only will build on the strong partnership we already have at the political level but also on the economic and commercial investment level. President Aliyev arrived in Islamabad on a two-day official visit. Prime Minister Shehbaz Sharif welcomed him along with his cabinet members. To announce the arrival of the distinguished guest, a 21-gun salute took place in the background and two children dressed in traditional clothes presented him with bouquets. When he arrived at PM House to meet the Prime Minister along with his high-powered delegation he was presented a guard of honor. Pakistan-Azerbaijan relations have been an important strategic alliance, due to Pakistan’s recognition of Azerbaijan’s independence in 1991. Pakistan is the second country to do so, and Azerbaijan established its mission in Islamabad on 24 August 1997. Pakistan was one of the first countries to pay a high-level official visit to Baku, and since then, the two states have seen many official exchanges, which strengthened their partnership. In March 2015, the two states signed a joint declaration of strategic partnership that launched several joint projects in various frameworks. Azerbaijan’s inclination towards military cooperation with Pakistan has intensified with increasing development and cooperation. Pakistan being a nuclear power along with its vast military assets has a lot to offer when it comes to Azerbaijan, its long-time ally. Military cooperation progressed through several joint exercises and military agreements.
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