Pakistan, Azerbaijan sign MoUs, set $2bln investment goal

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Pakistan, Azerbaijan sign MoUs, set $2bln investment goal

BAKU: Pakistan and Azerbaijan have signed multiple Memorandums of Understanding (MoUs) and agreements to enhance cooperation in trade, energy, tourism, and education.

The documents were exchanged following talks between Prime Minister Shehbaz Sharif and President Ilham Aliyev in Baku. Both leaders witnessed the signing ceremony, reinforcing their commitment to strengthening bilateral ties.

Among the agreements, an MoU was signed between the State Oil Company of Azerbaijan Republic (SOCAR) and Pakistan’s Frontier Works Organization (FWO) and PSO for collaboration on the Machike-Thallian-Tarujabba White Oil Pipeline Project. An amendment agreement was also signed regarding the sale and purchase of LNG cargoes under the Master LNG Sale and Purchase Agreement.

Additionally, a Memorandum of Understanding was signed between Azerbaijan’s city of Nakhchivan and Pakistan’s Lahore to foster cooperation in culture, tourism, urban development, education, science, and economic sectors.

During a joint press conference, the Pakistani Prime Minister emphasized that all political parties in Pakistan are united in strengthening ties with Azerbaijan. He stressed the need to expand relations into economic and defence sectors, highlighting the significance of joint manufacturing of defence equipment.

He expressed confidence that the signed MoUs and future agreements will yield substantial benefits, deepening cooperation between both nations. The leaders reaffirmed their commitment to elevating defence collaboration to new heights.

 

Pakistan State Time is a versatile digital news and media website that covers all latest news developments on 24/7 basis.

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