Why are economic ties with Azerbaijan important for Pakistan?
Which country is most beneficial to the $2 billion agreements signed in April?
Pakistan is the gateway to the mineral-rich Central Asia for the rest of the world. It is the gateway that also opens international relations, especially trade relations, for the countries of Central Asia. In this sense, Pakistan and the countries of Central Asia are the arteries of economic development and prosperity for each other. The current government is working to overcome the difficulties that Pakistan is currently facing due to the poor state of its economy.
Prime Minister Shehbaz Sharif was on a two-day visit to Azerbaijan, an important country in Central Asia, for this purpose. During his meeting with Azerbaijani President Ilham Aliyev in the capital of Azerbaijan, Baku, several agreements and memorandums of understanding for multilateral cooperation were signed. Under which it has been agreed to finalize matters related to Azerbaijan's investment of $ 2 billion in Pakistan, increase bilateral trade volume and promote joint defense production. These cooperation projects will be implemented during President Ilham Aliyev's visit to Pakistan in April and the final documents will be submitted. Prime Minister Shahbaz Sharif announced in a joint press conference with the Azerbaijani President that he would personally supervise the implementation of these projects and ensure their success. Several agreements and memorandums of understanding were signed between Pakistan and Azerbaijan in the capital Baku for cooperation in various fields including oil and gas, agriculture, environmental protection, tourism, education and science and technology. Under one agreement, an Azerbaijani company will lay an oil pipeline from Karachi to the northern regions. Currently, the two countries are trading at $14 million, which will be increased to $2 billion. Basmati rice will be exported from Pakistan to Azerbaijan. The President of Azerbaijan has announced the abolition of import duty on Pakistani rice in this regard. Under another agreement, it has been decided to establish a joint defense manufacturing facility, which will promote cooperation in this sector.
Prime Minister Shehbaz Sharif expressed his belief in the press conference that the MoUs will help strengthen the bilateral relations between the two countries. Not only will mutual economic and trade ties be strengthened, but peace, development and prosperity will come to the world. The Prime Minister, while addressing the Pak-Azerbaijan Joint Business Forum, highlighted the investment opportunities and conducive environment in Pakistan. During his meeting with the Azerbaijani President, he reiterated Azerbaijan’s support on the Nagorno-Karabakh issue and thanked Azerbaijan for its support on Kashmir. He termed the joint production of defense equipment as an important milestone in the relations between the two countries. On the issue of Palestine, he supported the sovereignty of the original inhabitants of this land and declared the two-state solution acceptable. The steps that the current government is taking to revive the economy, seeking cooperation from Azerbaijan and other Central Asian Muslim countries is the most important link in this regard. Before this, several steps were taken to strengthen economic and trade ties with Arab countries and China, due to which the country's economy has come out of the slump and is on the path of stability. However, much remains to be done in this regard, for which the government should continue its efforts in the right direction.
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