During Prime Minister Shehbaz Sharif’s official visit to Baku, Pakistan and Azerbaijan agreed to enhance bilateral investments to $2 billion focusing on mutually beneficial projects. This decision emerged from discussions between Prime Minister Sharif and President Ilham Aliyev at the Presidential Palace.
Both of them announced that a formal signing ceremony would be held in April after final arrangements had been completed by both countries. The cooperation aims at furthering economic relations in trade, energy, tourism and education.
Another significant development is the signing of a memorandum of understanding between SOCAR and Pakistan’s FWO and PSO for the Machike-Thallian-Taru Jabba white oil pipeline project. There was also agreement on the amendment of the existing liquefied natural gas sale and purchase agreement framework.
The MoU on cultural cooperation is to be signed between the city’s of Nakhchivan in Azerbaijan and Lahore in Pakistan. While both leaders noted the importance of expansion of economic cooperation as well as defence ties through defence production initiatives.
