PM Shehbaz Establishes Committee for Swift Implementation of Azerbaijan Agreements
Prime Minister Shehbaz Sharif has set up a committee to expedite the implementation of memorandums of understanding (MoUs) and agreements signed with Azerbaijan during his recent visit.
During his trip last week, both nations finalized discussions on Baku’s $2 billion investment in Pakistan, agreed to boost bilateral trade, and explored opportunities for joint defense production.
According to the Associated Press of Pakistan (APP), Deputy Prime Minister and Foreign Minister Ishaq Dar will lead the committee, as stated in a press release from the Prime Minister’s Office (PMO).
The decision to establish this committee, tasked with drafting agreements in energy and infrastructure sectors, was made during a meeting chaired by PM Shehbaz to assess the progress of the accords signed with Azerbaijan.
The prime minister directed officials to devise an action plan aimed at increasing trade volume between the two countries to $2 billion. Additionally, he instructed authorities to complete all necessary preparations ahead of Azerbaijani President Ilham Aliyev’s anticipated visit to Pakistan in April.
During his two-day visit to Azerbaijan, PM Shehbaz received confirmation from President Aliyev that he would visit Islamabad in April to formalize the $2 billion investment agreements.
The prime minister also directed the appointment of trade officers in Azerbaijan and other nations with strong trade potential for Pakistan.
Emphasizing Pakistan’s longstanding ties with Azerbaijan, PM Shehbaz stated that the government is actively working to harness the trade and investment opportunities between Pakistan and Central Asian countries.
During the meeting, officials shared that the Pakistan-Azerbaijan Business Forum, held in Baku last week, saw participation from 83 Pakistani and 101 Azerbaijani companies. The event was also attended by PM Shehbaz.
During the visit, Pakistan and Azerbaijan signed 13 MoUs and agreements to enhance bilateral cooperation. Among these, four agreements involved collaboration between Pakistan State Oil Company Ltd (PSO) and Azerbaijan’s State Oil Company (Socar).
Another agreement included an amendment related to the Sale and Purchase of LNG cargoes under the Master LNG Sale and Purchase Agreement.