Pakistan, Azerbaijan strengthen ties with multiple pact signings

BAKU: Prime Minister Shehbaz Sharif and Azerbaijan President Ilham Aliyev on Monday witnessed the exchange of multiple pre-signed accords, further strengthening bilateral ties in various fields.

The Memorandums of Understanding (MoUs), exchanged during the two-day official visit of PM Shehbaz to the Central Asian country, boost bilateral cooperation in different fields including trade, energy, tourism, education and others.

The documents exchange ceremony was held after the two leaders’ bilateral meeting and the delegation-level talks encompassing cooperation in multiple sectors.

Addressing the joint media briefing, PM Shehbaz said: “I am extremely grateful to you when you announced that Azerbaijan will invest $2 billion in Pakistan in ventures that are mutually beneficial, which will bring dividends to both countries.”

He said that a one-month time had been given to finalize all the projects and agreements in various sectors to be signed in April this year during the visit of Azerbaijan president to Pakistan.

“This will be the first quantum jump in our trade and investment relations and will be a huge reflection of our fraternal ties,” said PM Shehbaz.

“Our business, trade, and investment ties were not reflecting the true strength of our relations but today we have achieved that target and in a months’ time we will celebrate this great decision into action,” he added.

Meanwhile, President Aliyev regretted that the bilateral trade turnover was only several tens of million of US dollars that was needed to be increased.

“I think we have the way how to do it. We received concrete projects from Pakistan, and Azerbaijani representatives are evaluating them,” he siad. “Today we put ambitious and realistic targets to finalise all the discussions within one month and by the beginning of April, the documents will be prepared for signing.”

Earlier, the premier recieved a guard of honour by Azerbaijan’s armed forces at the Zagulba Presidential Palace, where the Memorandums of Understanding (MoUs) were signed.

The premier, marking his second visit to the country since taking office in March 2024, has been accompanied by a high-level ministerial delegation.

This delegation includes Deputy Prime Minister and Foreign Minister Ishaq Dar, Minister for Commerce Jam Kamal Khan, Minister for Investment and Privatisation Abdul Aleem Khan, Minister for Overseas Pakistanis and Human Resource Development Chaudhry Salik Hussain, Information Minister Ataullah Tarar, and Special Assistant to the Prime Minister Syed Tariq Fatemi.

MoUs signed

The two countries signed an MoU between the State Oil Company of Azerbaijan Republic (SOCAR) and Pakistan’s Frontier Works Organisation (FWO) and Pakistan State Oil Company Limited for collaboration in Machike-Thallian-Tarujabba White Oil Pipeline Project.

The documents were exchanged by President of SOCAR Rovshan Najaf and Director General of FWO Abdul Sami.

Meanwhile, President of SOCAR Rovshan Najaf and MD PRL Zahid Mir exchanged the documents of an MoU between Azerbaijan’s SOCAR and Pakistan Refinery Limited (PRL) and Pakistan State Oil Company Limited.

Both countries also signed an amendment agreement No 1 to Framework Agreement for the Sale and Purchase of LNG cargoes related to Master LNG Sale and Purchase Agreement. The SOCAR President Rovshan Najaf and CEO Pakistan LNG Limited Masood Nabi exchanged the pre-signed documents.

SOCAR President Rovshan Najaf and CEO PSO Syed Muhammad Taha exchanged documents of an MoU between PSO and SOCAR Trading SA and Acknowledgment for Term Sale and Purchase Agreement for Petroleum Products by and between PSO and SOCAR Trading.

Dar and his Azeri counterpart Jeyhun Bayramov exchanged the documents of an MoU between Nakhchivan, a city of Nakhchivan Autonomous Republic of Azerbaijan and Lahore to promote cooperation in the fields of culture, tourism, urban development, education, economy, and science and technology.

The discussions also focused on expanding trade and investment, enhancing cooperation in the energy sector, synergise efforts to deal with climate change, deepening defense collaboration, and fostering cultural exchanges.

As part of his engagements, PM Shehbaz and the Azerbaijani leadership will also address the Pakistan-Azerbaijan Business Forum today.

The forum will bring together business leaders from both countries to explore avenues for joint ventures and trade and investment opportunities, emphasising business-to-business (B2B) collaboration.

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