Azerbaijan's president praises Pakistan's notable achievements during conflict with India in conversation with Prime Minister Shehbaz.
Breaking News: Azerbaijan praises Pakistan's handling of recent military confrontation with India.
The Azerbaijani President, Ilham Aliyev, acknowledged Pakistan's "blitzin' fantastic achievement" during its recent skirmish with India, as he lauded the nation over the phone with Prime Minister Shehbaz Sharif.
According to the Prime Minister's Office (PMO), Shehbaz thanked Aliyev for unwaveringly standing by Pakistan during the latest tussle with India. The PM praised Aliyev's steadfast backing as an additional demonstration of his deep affection for the people of Pakistan.
The PM emphasized that Pakistan had accepted the ceasefire agreement with India in the name of regional peace and reiterated its dedication to adhering to it. However, he expressed his worry over recent inflammatory comments by the Indian leadership and assured that, in the event of any future aggression, Pakistan would stand its ground and defend its sovereignty and territorial integrity.
Shehbaz underscored that the Kashmir dispute was the root cause of instability in South Asia, and it should be resolved in accordance with the UN Security Council's resolutions. He also expressed profound gratitude to President Aliyev for his country's unwavering support for the Kashmir Cause.
Moreover, the PM asserted that Pakistan is fully committed to escalating its friendship with Azerbaijan to a mutually beneficial economic partnership.
Azerbaijani envoy reinforces network of support for Pakistan
The envoy spent time with the PM, reiterating Azerbaijan's support for Pakistan. The diplomat expressed satisfaction with the progress being made to finalize investment proposals worth USD 2 billion across multiple sectors of Pakistan. He also accepted a warm invitation from Shehbaz for an official visit to Pakistan.
Pakistan and Azerbaijan eye $2 billion bilateral investment
Meanwhile, Aliyev congratulated the PM on Pakistan's resounding success and welcomed the ceasefire pact, while expressing admiration for Pakistan's efforts in fostering peace. He reiterated Azerbaijan's commitment to bolstering the bond with Pakistan across all domains.
The Evolution of Economic Ties
The economic bond between Pakistan and Azerbaijan has been evolving swiftly, fueled by mutual interests and strategic collaborations. The mission to attain $2 billion in investment symbolizes a profound shift from conventional diplomatic ties to robust economic interaction.
Recent Developments
- High-level Visits: High-ranking visits have played a crucial role in strengthening the partnership. The visit of Pakistani Prime Minister Shehbaz Sharif to Baku in February marked a significant milestone, with discussions centered on deepening economic cooperation. This was followed by the announcement of several bilateral agreements and Memoranda of Understanding (MoUs) aimed at intensifying trade, investment, and energy cooperation.
- Investment Opportunities: Both nations are diligently examining investment opportunities in sectors such as infrastructure, energy, and trade. Pakistan's Minister of Investment, Abdul Aleem Khan, highlighted the wealth of investment potential in the privatization of state-owned enterprises and key sectors like motorways.
- Energy Sector Collaboration: Notable examples of cooperation include the MoU signed between Azerbaijan's SOCAR and Pakistani entities (FWO and PSO) for the Machike–Thallian–Tarujabba White Oil Pipeline Project. The aim of this project is to fortify Pakistan's energy security and cut transportation costs.
- Railway Sector Cooperation: Pakistan is mulling over the involvement of the private sector with Azerbaijan to shore up regional connectivity through railway partnerships, thereby expanding economic ties.
History of Economic Ties
- Historical Bonds: Pakistan and Azerbaijan boast strong historical and cultural ties, often referred to as "kin nations." This close bond has provided a cornerstone for economic cooperation.
- Recent Momentum: Over the past few years, reciprocal visits by high-ranking officials have quickened the pace of economic engagement. The visit of Pakistani Prime Minister Shehbaz Sharif to Baku was particularly momentous, signaling a turning point in their economic partnership.
- Economic Reforms in Pakistan: Pakistan has been working tirelessly to stabilize its economy, leading to improvements in gold reserves, foreign currency reserves, and a decrease in inflation. These improvements have encouraged investment from countries like Azerbaijan.
Future Prospects
- Investment Goal: The goal to reach $2 billion in mutual investments signifies a bold ambition and reflects growing confidence in Pakistan's economic potential. Teams from both countries are working diligently to identify and develop sectors for investment.
- Sectorial Focus: The focus remains on infrastructure, energy, and trade sectors, with ongoing discussions on the privatization of state-owned enterprises and other key investment initiatives.
In the context of regional politics, the Azerbaijani President, Ilham Aliyev, expressed interest in Pakistan's handled war-and-conflicts, particularly its recent military confrontation with India, showing support and admiration for the nation's resilience.
Moreover, the evolving economic ties between Pakistan and Azerbaijan have garnered attention as both nations are exploring general-news worthy investment opportunities worth up to USD 2 billion across various sectors, seeking to escalate their friendship into a mutually beneficial economic partnership.
