MoUs, pacts with Azerbaijan: PM sets up Dar-led panel for prompt realisation

ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday constituted a committee to ensure prompt realisation of memoranda of understanding (MoUs) and agreements signed with Azerbaijan during his recent visit to the country.

During the visit of Prime Minister Sharif to Azerbaijan last week, Pakistan and Azerbaijani finalised matters concerning a $2 billion investment by Baku in Pakistan, along with plans to enhance bilateral trade volume and collaborate on defence production.

The committee, headed by Foreign Minister Ishaq Dar, will focus on preparing agreements in the energy and infrastructure sectors, said the statement issued by the Prime Minister’s Office (PMO).

PM Shehbaz Sharif chairs a review meeting regarding his recent visit to Azerbaijan

The decision to form the panel was made during a meeting chaired by the prime minister to assess the progress of the agreements signed with Azerbaijan.

He directed the authorities to devise an action plan to boost trade volume with Azerbaijan to $2 billion and ensure all preparations are completed promptly in anticipation of Azerbaijan President IlhamAliyev’s visit to Pakistan in April. During Sharif’s visit to Azerbaijan, President Aliyev had pledged to visit Islamabad in April to formalise the $2 billion investment agreements for Pakistan.

The statement highlighted Sharif’s emphasis on appointing trade officers in Azerbaijan and other countries with significant trade potential with Pakistan, underscoring the strong ties between Pakistan and Azerbaijan and the government’s efforts to leverage the trade and investment opportunities with Central Asian states. The meeting participants were informed that 83 Pakistani and 101 Azerbaijani companies participated in the Pakistan-Azerbaijan Business Forum in Baku, attended by the premier during his visit last week. Thirteen MoUs and agreements were signed during the visit to enhance bilateral cooperation, including agreements related to oil involving Pakistan State Oil Company Ltd (PSO) and State Oil Company of Azerbaijan Republic (SOCAR), as well as an amendment agreement for the sale and purchase of liquefied natural gas (LNG) cargoes under the master LNG sale and purchase agreement.

Copyright Business Recorder, 2025