Islamabad (TDI): President of Azerbaijan, Ilham Aliyev, is all set to visit Pakistan on a two-day official state visit, starting April 26th.
The visit is notably significant because it will see a signing of investment agreements that have been under planning for the past few months.
Both countries share a historic relationship which spans over economy, trade, tourism, share values, and brotherhood.
Pakistan’s government, under the premiership of Shehbaz Sharif, has remained keen and consistent to lay a broad framework of cooperation with Azerbaijan.
Specific task teams have been working under the supervision of Deputy Prime Minister (DPM) and Foreign Minister, Ishaq Dar, to devise the terms of various investment proposals which will now be formalized upon President Aliyev’s arrival.
Read More: Pakistan, Azerbaijan Vow to Boost Economic Cooperation
Few high level meetings have already concluded leading up to the President’s visit. DPM Ishaq Dar and Minister for Economy of Azerbaijan Mikayil Jabbarov met on Tuesday.
Both dignitaries agreed that fast-tracking key projects can serve as anchor for broader economic activity.
Earlier, on the directives of PM Shehbaz after he visited Azerbaijan in February, DPM Dar has been monitoring inter-ministerial meetings on investment proposals.
Since PM’s visit, keenness to invest in each other’s growing sectors has quickly translated into finalization of agreements.
Reports have suggested that various Memoranda of Understanding (MoUs) will be inked related to investments in the M-6 and M-9 motorways as well as in the petroleum sector of Pakistan.
Read More: Stronger Pakistan-Azerbaijan Ties a Priority: FM
Pakistan and Azerbaijan share strong diplomatic, economic, and defense relations based on mutual support and cooperation.
Since the establishment of diplomatic ties in 1992, the two countries have increasingly strengthened their partnership, especially in areas of defense and energy.
Trade relations between Pakistan and Azerbaijan have developed over the years, with both sides working to facilitate increased trade relations, investment, and energy cooperation.
The oil and gas reserves of Azerbaijan give Pakistan an opportunity to diversify its energy imports; in turn, Azerbaijan provides a market for Pakistani products in textiles and pharmaceuticals.
Nuzhat Rana is an Associate Editor at The Diplomatic Insight.
