Pakistan, Azerbaijan to boost bilateral investment to $2b

Baku: Pakistan and Azerbaijan have decided to enhance the scope of bilateral investment by up to two billion dollars in areas of mutually beneficial projects.

The decision was made during talks between Prime Minister Shehbaz Sharif and President of Azerbaijan Ilham Aliyev at the Presidential Palace in Baku on Monday.

Later addressing a joint news conference, Prime Minister Shehbaz Sharif said all the political parties in Pakistan are united to further strengthen friendship between the two countries. He said the cordial and friendly relations between Pakistan and Azerbaijan should be expanded to the economic front as well.

He expressed the confidence that the Memorandums of Understanding signed today and agreements which will be signed later in April this year will go a long way in promoting our sincere efforts to have very good dividends in future.

He said it is time for both Pakistan and Azerbaijan to enhance their defence ties to a higher level. The commitment to initiate joint manufacturing of defence equipment will also have far-reaching impacts.

The Prime Minister termed the proposal of Azerbaijan's President for an international infrastructure corridor as need of the hour saying that Pakistan's Gwadar Port can also be used for imports and exports. He said it will bring very transformative and positive impact in the entire region. He said Pakistan fully supports this vision of Azerbaijan's President.

Shehbaz Sharif also thanked Ilham Aliyev for extending very warm hospitality to his entourage during his visit to Azerbaijan.

The Prime Minister expressed the commitment to solidify and strengthen relationship and brotherhood through mutual efforts.