Pakistan, Azerbaijan agree to expand investment volume up to $2bn

ISLAMABAD: Pakistan and Azerbaijan on Thursday agreed to enhance the bilateral investment level up to US$2 billion in areas of mutual beneficial projects.

In a joint press stakeout along with Azerbaijan President Illham Aliyev, after witnessing signing of agreements and MoUs in diverse areas between the two countries, Prime Minister Muhammad Shehbaz Sharif said “we have discussed an initial figure of $2 billion investment in areas of mutual beneficial projects”.

The prime minister hoped that when he will visit Azerbaijan in November this year, the two sides would be ready to ink agreements worth $2 billion to start with, as there was great potential in both sides to multiply this figure in years to come.

“In today’s in depth conversation, we have agreed to enhance our bilateral trade besides discussing areas of joint cooperation and joint investments,” he added.

The prime minister said, “The bilateral investment volume of less than $100 million does not reflect the strength of our brotherhood and friendship in the field of joint investment in areas which are mutually beneficial”.

Expressing satisfaction over the bilateral meeting, the prime minister said discussions were held on mutual trust and confidence where both sides expressed their unwavering commitment to move forward and touch higher levels of achievements in the fields of trade and investment.

He emphasized that Pakistan had always supported Azerbaijan’s stand while the brotherly country had always supported the cause of millions of Kashmiris who had rendered huge sacrifices for more than seven decades to achieve their right of self determination as per UN Security Council resolutions.

He recalled the President Aliyev’s visit in 2017 during the tenure of then PM Nawaz Sharif saying that history was repeating as Nawaz Sharif’s younger brother was now receiving him along with people of Pakistan.